$71.55 Million in Sales Expected for Ping Identity Holding Corp. (NYSE:PING) This Quarter

Wall Street analysts expect that Ping Identity Holding Corp. (NYSE:PING) will post sales of $71.55 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ping Identity’s earnings, with the highest sales estimate coming in at $73.10 million and the lowest estimate coming in at $70.37 million. Ping Identity posted sales of $63.26 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.1%. The firm is expected to report its next earnings report on Wednesday, February 23rd.

On average, analysts expect that Ping Identity will report full year sales of $295.58 million for the current year, with estimates ranging from $294.41 million to $297.10 million. For the next fiscal year, analysts forecast that the company will report sales of $332.31 million, with estimates ranging from $322.01 million to $343.52 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Ping Identity.

Ping Identity (NYSE:PING) last issued its earnings results on Wednesday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.16. Ping Identity had a negative return on equity of 1.67% and a negative net margin of 14.54%. During the same period in the prior year, the business earned $0.07 earnings per share.

PING has been the topic of several recent analyst reports. Stephens boosted their price target on Ping Identity from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. Zacks Investment Research upgraded Ping Identity from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 3rd. Royal Bank of Canada boosted their price target on Ping Identity from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, November 4th. Raymond James boosted their price target on Ping Identity from $42.00 to $44.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 4th. Finally, Wells Fargo & Company upped their price objective on Ping Identity from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, November 4th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $33.64.

In other news, major shareholder Vep Group, Llc sold 11,500,000 shares of the company’s stock in a transaction on Friday, November 12th. The stock was sold at an average price of $27.85, for a total transaction of $320,275,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andre Wong Durand sold 100,000 shares of the business’s stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $25.37, for a total value of $2,537,000.00. The disclosure for this sale can be found here. Insiders sold a total of 12,502,000 shares of company stock valued at $344,105,060 over the last three months. Corporate insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Ping Identity by 18.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,461,079 shares of the company’s stock worth $102,159,000 after buying an additional 685,095 shares during the period. BlackRock Inc. grew its stake in Ping Identity by 30.0% during the 3rd quarter. BlackRock Inc. now owns 4,439,119 shares of the company’s stock valued at $109,069,000 after acquiring an additional 1,024,842 shares in the last quarter. FIL Ltd grew its stake in Ping Identity by 2.2% during the 3rd quarter. FIL Ltd now owns 2,662,179 shares of the company’s stock valued at $65,410,000 after acquiring an additional 57,701 shares in the last quarter. Legal & General Group Plc grew its stake in Ping Identity by 28.3% during the 2nd quarter. Legal & General Group Plc now owns 2,653,761 shares of the company’s stock valued at $60,771,000 after acquiring an additional 585,218 shares in the last quarter. Finally, Bamco Inc. NY grew its stake in Ping Identity by 77.1% during the 2nd quarter. Bamco Inc. NY now owns 1,527,131 shares of the company’s stock valued at $34,971,000 after acquiring an additional 665,000 shares in the last quarter. Hedge funds and other institutional investors own 88.91% of the company’s stock.

Shares of NYSE:PING traded down $0.03 during trading on Friday, hitting $24.31. The company’s stock had a trading volume of 865,211 shares, compared to its average volume of 1,039,676. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.16. Ping Identity has a fifty-two week low of $20.70 and a fifty-two week high of $37.23. The firm’s 50-day simple moving average is $26.34. The stock has a market capitalization of $2.03 billion, a P/E ratio of -47.67 and a beta of 1.03.

Ping Identity Company Profile

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

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