Needham Releases a Hold Rating on Ping Identity Holding (PING)
Needham analyst Mike Cikos assigned a Hold rating to Ping Identity Holding (PING) today. The company’s shares closed last Thursday at $24.94.
According to TipRanks.com, Cikos is a 3-star analyst with an average return of 65.7% and a 66.7% success rate. Cikos covers the Technology sector, focusing on stocks such as Cognyte Software, Tenable Holdings, and SecureWorks.
Currently, the analyst consensus on Ping Identity Holding is a Moderate Buy with an average price target of $31.06.
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Based on Ping Identity Holding’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $68.94 million and GAAP net loss of $15.93 million. In comparison, last year the company earned revenue of $61.41 million and had a GAAP net loss of $4.29 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PING in relation to earlier this year.
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Ping Identity Holding Corp. engages in pioneering intelligent identity. It enables secure access to service, application or application programming interface from device. The company operates a platform that can leverage artificial intelligence and machine learning to analyse device, network, application and user behaviour data to make real-time authentication and security control decisions. The company was founded in 2003 and is headquartered in Denver, CO.