Ping Identity Holding Corp (NYSE:PING) Expected to Post Quarterly Sales of $65.76 Million

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Equities research analysts forecast that Ping Identity Holding Corp (NYSE:PING) will post $65.76 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Ping Identity’s earnings, with estimates ranging from $65.60 million to $65.89 million. The business is scheduled to issue its next earnings results on Wednesday, February 12th.

According to Zacks, analysts expect that Ping Identity will report full year sales of $240.43 million for the current year, with estimates ranging from $240.30 million to $240.56 million. For the next year, analysts forecast that the company will post sales of $266.00 million, with estimates ranging from $258.11 million to $269.19 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Ping Identity.

PING has been the topic of several research reports. William Blair initiated coverage on shares of Ping Identity in a report on Monday, October 14th. They set an “outperform” rating and a $21.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Ping Identity in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Deutsche Bank initiated coverage on Ping Identity in a research report on Monday, October 14th. They set a “buy” rating and a $21.00 target price on the stock. Royal Bank of Canada boosted their price target on Ping Identity to $23.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Co assumed coverage on Ping Identity in a report on Monday, October 14th. They issued an “outperform” rating for the company. Thirteen research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $21.92.

Several institutional investors have recently modified their holdings of PING. FNY Investment Advisers LLC acquired a new stake in shares of Ping Identity during the 3rd quarter valued at about $25,000. Tower Research Capital LLC TRC acquired a new position in Ping Identity in the third quarter worth about $28,000. Zimmer Partners LP acquired a new position in Ping Identity in the third quarter worth about $173,000. Teacher Retirement System of Texas bought a new position in Ping Identity during the third quarter worth about $431,000. Finally, Tenzing Global Management LLC acquired a new stake in Ping Identity during the third quarter valued at approximately $431,000. Institutional investors and hedge funds own 96.28% of the company’s stock.

Shares of Ping Identity stock opened at $22.19 on Wednesday. Ping Identity has a fifty-two week low of $15.22 and a fifty-two week high of $22.82. The firm has a fifty day moving average of $18.15.

About Ping Identity

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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