Zacks: Brokerages Expect Ping Identity Holding Corp. (NYSE: PING) will post EPS of -$0.01


Equity research analysts expect Ping Identity Holding Corp. (NYSE:PING – Get Rating) reports earnings per share (EPS) of ($0.01) for the current fiscal quarter, according to Zacks. Six analysts provided revenue estimates for Ping Identity. The lowest EPS estimate is ($0.07) and the highest is $0.06. Ping Identity reported earnings of $0.04 per share in the same quarter last year, indicating a negative 125% year-over-year growth rate. The company is expected to release its next earnings report after the market closes on Monday, January 1.

According to Zacks, analysts expect Ping Identity to report annual earnings of $0.09 per share for the current fiscal year, with EPS estimates ranging from $0.28 to $0.13. For next year, analysts expect the company to post earnings of $0.15 per share, with EPS estimates ranging from ($0.08) to $0.47. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts who provide coverage for Ping Identity.

Ping Identity (NYSE:PING – Get Rating) last reported quarterly earnings data on Thursday, February 24. The company reported ($0.22) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($0.10) by ($0.12). Ping Identity had a negative net margin of 21.50% and a negative return on equity of 4.65%. The company posted revenue of $75.42 million in the quarter, compared to $71.39 million expected by analysts. During the same period of the previous year, the company posted EPS of $0.04. The company’s revenue for the quarter increased by 19.2% compared to the same quarter last year.

PING has been the subject of a number of recent analyst reports. BTIG Research lowered its price target on Ping Identity shares from $37.00 to $30.00 and set a “buy” rating on the stock in a Monday, February 14 research report. Piper Sandler raised her target price on Ping Identity shares from $25.00 to $30.00 and gave the company a “neutral” rating in a Thursday, Jan. 6 research report. Wells Fargo & Company raised its price target on Ping Identity shares from $28.00 to $35.00 and gave the company an “overweight” rating in a Wednesday, March 30 research report. Stifel Nicolaus moved shares of Ping Identity from a “hold” rating to a “buy” rating and raised his target price for the company from $25.00 to $30.00 in a Thursday 24 research report. March. Finally, Mizuho cut its price target on Ping Identity shares from $33.00 to $28.00 in a Tuesday, January 18 research report. One analyst rated the stock with a sell rating, four gave a hold rating, ten gave a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $32.27.

Shares of PING traded down $1.17 during Friday’s midday session, hitting $26.13. The stock recorded a trading volume of 580,174 shares, compared to an average volume of 1,037,314 shares. The company has a debt ratio of 0.39, a current ratio of 3.30 and a quick ratio of 3.30. Ping Identity has a 52-week minimum of $17.60 and a 52-week maximum of $30.40. The company’s fifty-day moving average is $24.47 and its 200-day moving average is $23.61. The company has a market capitalization of $2.19 billion, a price-earnings ratio of -33.50 and a beta of 1.13.

In related news, COO Bryan Kristian Nagel sold 59,000 shares of the company in a trade that took place on Wednesday, April 13. The shares were sold at an average price of $30.07, for a total value of $1,774,130.00. Following the sale, the chief operating officer now owns 473,387 shares of the company, valued at $14,234,747.09. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, CEO Andre Wong Durand sold 100,000 shares of the company in a trade that took place on Friday, March 25. The shares were sold at an average price of $26.04, for a total transaction of $2,604,000.00. The disclosure of this sale can be found here. Insiders have sold 224,564 shares of the company worth $6,259,867 in the past three months. Company insiders hold 2.89% of the company’s shares.

A number of large investors have recently changed their stock holdings. BlackRock Inc. increased its stake in Ping Identity by 19.1% in the fourth quarter. BlackRock Inc. now owns 5,288,146 shares of the company valued at $120,991,000 after acquiring an additional 849,027 shares last quarter. Legal & General Group Plc increased its stake in Ping Identity by 4.0% in the fourth quarter. Legal & General Group Plc now owns 3,311,199 shares in the company valued at $75,760,000 after buying an additional 126,956 shares in the last quarter. Senvest Management LLC acquired a new position in Ping Identity in the fourth quarter worth approximately $68,672,000. Keenan Capital LLC increased its stake in Ping Identity by 25.4% in the fourth quarter. Keenan Capital LLC now owns 2,921,691 shares of the company valued at $66,848,000 after purchasing an additional 591,691 shares in the last quarter. Finally, FIL Ltd increased its stake in Ping Identity by 2.2% in the third quarter. FIL Ltd now owns 2,662,179 shares of the company valued at $65,410,000 after purchasing an additional 57,701 shares in the last quarter. 88.14% of the shares are currently held by hedge funds and other institutional investors.

About Ping Identity (Get an assessment)

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

Further reading

Get a Free Copy of Zacks Research Report on Ping Identity (PING)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com



Get news and reviews for Ping Identity Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Ping Identity and related companies with MarketBeat.com’s free daily email newsletter.

Comments are closed.