Ping Identity Holding Corp. [NYSE: PING] loss -1.50% or -0.35 points to close at $22.93 with a heavy trading volume of 751671 shares. The company report on June 22, 2021 that Ping Identity Announces Enhanced PingOne Cloud Platform and Dynamic Authorization Solution at Identiverse 2021.
Updates enable seamless digital experiences now managed from a single cloud console .
Ping Identity (NYSE: PING), the intelligent identity solution for the enterprise, announced two major enhancements to enable secure and seamless digital experiences for employees and customers. The PingOne Cloud Platform now delivers the entire Ping Identity portfolio from a unified cloud admin and solves both workforce and customer identity use cases. Additionally, PingAuthorize enables enterprises with dynamic authorization and attribute-based access control (ABAC) giving them a central place to authorize sensitive transactions and data to comply with privacy regulations, reduce fraud, and increase agility.
It opened the trading session at $23.50, the shares rose to $23.54 and dropped to $22.45, the range by which the price of stock traded the whole day. The daily chart for PING points out that the company has recorded -19.94% loss over the past six months. However, it is still -14.82% lower than its most recent low trading price.
If we look at the average trading volume of 985.87K shares, PING reached to a volume of 751671 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ping Identity Holding Corp. [PING]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PING shares is $31.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PING stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for Ping Identity Holding Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 11, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Hold. The new note on the price target was released on May 25, 2021, representing the official price target for Ping Identity Holding Corp. stock. Previously, the target price had yet another raise to $30, while Credit Suisse analysts kept a Neutral rating on PING stock. On February 25, 2021, analysts decreased their price target for PING shares from 34 to 30.
The Average True Range (ATR) for Ping Identity Holding Corp. is set at 0.77, with the Price to Sales ratio for PING stock in the period of the last 12 months amounting to 7.61. The Price to Book ratio for the last quarter was 2.57, with the Price to Cash per share for the same quarter was set at 0.66. Price to Free Cash Flow for PING in the course of the last twelve months was 62.66 with Quick ratio for the last quarter at 2.90.
Trading performance analysis for PING stock
Ping Identity Holding Corp. [PING] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.82. With this latest performance, PING shares dropped by -4.14% in over the last four-week period, additionally sinking by -19.94% over the last 6 months – not to mention a drop of -29.42% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PING stock in for the last two-week period is set at 42.54, with the RSI for the last a single of trading hit 39.22, and the three-weeks RSI is set at 44.66 for Ping Identity Holding Corp. [PING]. The present Moving Average for the last 50 days of trading for this stock 23.81, while it was recorded at 23.22 for the last single week of trading, and 26.63 for the last 200 days.
Ping Identity Holding Corp. [PING]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Ping Identity Holding Corp. [PING] shares currently have an operating margin of -10.25 and a Gross Margin at +65.02. Ping Identity Holding Corp.’s Net Margin is presently recorded at -4.88.
Return on Total Capital for PING is now -3.02, given the latest momentum, and Return on Invested Capital for the company is -1.44. Return on Equity for this stock declined to -1.66, with Return on Assets sitting at -1.28. When it comes to the capital structure of this company, Ping Identity Holding Corp. [PING] has a Total Debt to Total Equity ratio set at 23.60. Additionally, PING Total Debt to Total Capital is recorded at 19.10, with Total Debt to Total Assets ending up at 17.18. Long-Term Debt to Equity for the company is recorded at 23.05, with the Long-Term Debt to Total Capital now at 18.65.
Reflecting on the efficiency of the workforce at the company, Ping Identity Holding Corp. [PING] managed to generate an average of -$11,635 per employee. Receivables Turnover for the company is 1.72 with a Total Asset Turnover recorded at a value of 0.26.Ping Identity Holding Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 2.90.
Ping Identity Holding Corp. [PING]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PING. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ping Identity Holding Corp. go to 15.70%.
An analysis of insider ownership at Ping Identity Holding Corp. [PING]
There are presently around $1,763 million, or 92.70% of PING stock, in the hands of institutional investors. The top three institutional holders of PING stocks are: VISTA EQUITY PARTNERS MANAGEMENT, LLC with ownership of 38,482,335, which is approximately 0% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 3,775,984 shares of the stock with an approximate value of $86.58 million in PING stocks shares; and FIL LTD, currently with $73.52 million in PING stock with ownership of nearly 13.822% of the company’s market capitalization.
Positions in Ping Identity Holding Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 101 institutional holders increased their position in Ping Identity Holding Corp. [NYSE:PING] by around 8,724,920 shares. Additionally, 78 investors decreased positions by around 10,532,247 shares, while 18 investors held positions by with 57,635,341 shares. The mentioned changes placed institutional holdings at 76,892,508 shares, according to the latest SEC report filing. PING stock had 39 new institutional investments in for a total of 1,601,774 shares, while 33 institutional investors sold positions of 2,976,019 shares during the same period.