Ping Identity’s (PING) “Downgrade” Rating Reiterated at KeyCorp

KeyCorp restated their downgrade rating on shares of Ping Identity (NYSE:PINGGet Rating) in a research report report published on Wednesday morning, MarketBeat reports.

A number of other equities analysts also recently issued reports on the company. Mizuho lowered their price target on Ping Identity from $29.00 to $25.00 and set a neutral rating on the stock in a research report on Tuesday, July 19th. Piper Sandler lowered their price target on Ping Identity from $25.00 to $20.00 in a research report on Wednesday, July 13th. The Goldman Sachs Group increased their price target on Ping Identity from $28.00 to $31.00 and gave the stock a buy rating in a research report on Tuesday, April 12th. Barclays lowered their price target on Ping Identity from $30.00 to $26.00 and set an overweight rating on the stock in a research report on Tuesday, July 12th. Finally, Wells Fargo & Company reduced their target price on Ping Identity from $35.00 to $27.00 and set an overweight rating for the company in a report on Monday, July 18th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $28.68.

Ping Identity Trading Down 0.1 %

Shares of PING opened at $27.97 on Wednesday. Ping Identity has a 52 week low of $15.85 and a 52 week high of $30.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.39 and a current ratio of 3.39. The stock’s 50-day moving average price is $19.18 and its 200-day moving average price is $21.30.

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

Insider Activity at Ping Identity

In related news, CEO Andre Wong Durand sold 100,000 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Ping Identity

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings 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 valued at $34,000 after purchasing an additional 1,150 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings 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 valued at $61,000 after purchasing an additional 1,420 shares during the last quarter. Exane Derivatives grew its position in Ping Identity by 229.8% in the first quarter. Exane Derivatives now owns 4,166 shares of the company’s stock worth $114,000 after acquiring an additional 2,903 shares during the period. Amalgamated Bank purchased a new position in Ping Identity in the first quarter worth approximately $201,000. Finally, Alpha Paradigm Partners LLC purchased a new position in Ping Identity in the fourth quarter worth approximately $198,000. Institutional investors and hedge funds 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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