Ping Identity (NYSE:PING) Price Target Raised to $28.50 at Mizuho

Ping Identity (NYSE:PINGGet Rating) had its price target raised by analysts at Mizuho from $25.00 to $28.50 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target points to a potential upside of 1.89% from the company’s previous close.

A number of other research firms have also recently commented on PING. Barclays cut Ping Identity from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Piper Sandler dropped their price objective on Ping Identity from $25.00 to $20.00 in a research report on Wednesday, July 13th. Wells Fargo & Company cut Ping Identity from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Stephens cut Ping Identity from an “overweight” rating to an “equal weight” rating in a research report on Thursday. Finally, Stifel Nicolaus reaffirmed a “downgrade” rating on shares of Ping Identity in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.68.

Ping Identity Price Performance

NYSE PING opened at $27.97 on Thursday. Ping Identity has a 12 month low of $15.85 and a 12 month high of $30.40. The stock’s fifty day moving average price is $19.18 and its 200-day moving average price is $21.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 3.39.

Ping Identity (NYSE:PINGGet Rating) last released its earnings results on Wednesday, August 3rd. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.21). Ping Identity had a negative return on equity of 9.77% and a negative net margin of 34.24%. The company had revenue of $72.00 million during the quarter, compared to analysts’ expectations of $73.30 million. During the same period in the prior year, the company posted ($0.04) earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. On average, sell-side analysts expect that Ping Identity will post -0.83 earnings per share for the current year.

Insider Transactions at Ping Identity

In other news, CEO Andre Wong Durand sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $27.87, for a total value of $2,787,000.00. Following the transaction, the chief executive officer now owns 502,416 shares of the company’s stock, valued at $14,002,333.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of Ping Identity by 164.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,850 shares of the company’s stock worth $34,000 after buying an additional 1,150 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of Ping Identity by 175.3% in the first quarter. Ensign Peak Advisors Inc now owns 2,230 shares of the company’s stock worth $61,000 after buying an additional 1,420 shares during the period. Exane Derivatives raised its stake in Ping Identity by 229.8% during the 1st quarter. Exane Derivatives now owns 4,166 shares of the company’s stock valued at $114,000 after purchasing an additional 2,903 shares during the period. Amalgamated Bank bought a new stake in Ping Identity during the 1st quarter valued at approximately $201,000. Finally, Alpha Paradigm Partners LLC bought a new stake in Ping Identity during the 4th quarter valued at approximately $198,000. Institutional investors own 84.31% of the company’s stock.

Ping Identity Company Profile

(Get Rating)

Ping Identity Holding Corp., doing business as Ping Identity Corporation, offers intelligent identity solutions for the enterprise in the United States and internationally. Its Ping Intelligent Identity platform provides access to cloud, mobile, Software-as-a-Service, and on-premise applications with customers, workforce, and partners.

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Analyst Recommendations for Ping Identity (NYSE:PING)

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