Ping Identity’s (NYSE:PING) lock-up period will end on Tuesday, March 17th. Ping Identity had issued 12,500,000 shares in its initial public offering on September 19th. The total size of the offering was $187,500,000 based on an initial share price of $15.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Several equities research analysts recently issued reports on the stock. Goldman Sachs Group lowered shares of Ping Identity from a “buy” rating to a “neutral” rating and increased their target price for the stock from $24.00 to $27.00 in a report on Tuesday, January 21st. Oppenheimer increased their target price on shares of Ping Identity from to and gave the stock an “outperform” rating in a report on Thursday, March 5th. Credit Suisse Group increased their target price on shares of Ping Identity from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Royal Bank of Canada increased their target price on shares of Ping Identity from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Finally, Wells Fargo & Co increased their target price on shares of Ping Identity from $22.50 to $32.50 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.65.
Shares of PING opened at $16.51 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.08 and a current ratio of 3.08. Ping Identity has a 1 year low of $15.22 and a 1 year high of $29.80. The firm’s 50 day moving average is $24.01. The stock has a market cap of $1.40 billion and a price-to-earnings ratio of 44.62.
Ping Identity (NYSE:PING) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The company had revenue of $68.20 million for the quarter, compared to analysts’ expectations of $65.74 million. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities research analysts expect that Ping Identity will post 0.13 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Ping Identity during the 4th quarter valued at approximately $33,000. Tower Research Capital LLC TRC purchased a new position in shares of Ping Identity in the third quarter valued at $28,000. Bank of Montreal Can purchased a new position in shares of Ping Identity in the fourth quarter valued at $42,000. Optimum Investment Advisors purchased a new position in shares of Ping Identity in the fourth quarter valued at $46,000. Finally, Citigroup Inc. purchased a new position in shares of Ping Identity in the fourth quarter valued at $68,000. 97.69% of the stock is owned by institutional investors and hedge funds.
Ping Identity Company Profile
Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions in the United States and internationally. It operates an Intelligent Identity platform, which offers secure access to any service, application, or application programming interface (API) to customers, employees, partners, and the Internet of Things.
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