RBC Capital analyst Matthew Hedberg maintained a Buy rating on Ping Identity Holding (PING) on March 29 and set a price target of $27.00. The company’s shares closed last Tuesday at $20.02.
According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 17.6% and a 66.0% success rate. Hedberg covers the Technology sector, focusing on stocks such as Altair Engineering, Netscout Systems, and Varonis Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ping Identity Holding with a $28.36 average price target, representing a 40.7% upside. In a report issued on March 27, BTIG also initiated coverage with a Buy rating on the stock with a $25.00 price target.
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Based on Ping Identity Holding’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $68.24 million and net profit of $2.21 million. In comparison, last year the company earned revenue of $42.62 million and had a GAAP net loss of $5.62 million.
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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.
