Value Hunters: Look To Ping Identity Holding Corp. (NYSE: PING)

FIVE Stock
FIVE Stock

Keenan Capital LLC recently announced the acquisition of new stake in Ping Identity Holding Corp. (NYSE:PING). The institutional investor has increased its shareholding in the Technology company by 46.87% to 1.95 million shares with purchase of 0.62 million shares. This fresh investment now brings its stake to 2.44% valued currently at $62.68 million. In addition, Polar Capital LLP raised its holdings by 1.06 million to 1.57 million shares. And The Vanguard Group, Inc. has lifted its position by 5.81% or 74979.0 shares – to 1.37 million shares.

With over 2.75 million Ping Identity Holding Corp. (PING) shares trading Tuesday and a closing price of $30.72 on the day, the dollar volume was approximately $84.53 million. The shares have shown a negative weekly performance of -2.85% and its price on 07/14/20 lost nearly -0.07%. Currently, there are 79.74M common shares owned by the public and among those 16.22M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for PING have a consensus price objective of $34.35. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $28.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Ping Identity Holding Corp. stock is 1.90 for the next 12 months. The average price target is 1.76% above its last price level and an upside to the estimated low will see the stock lose -9.71% over that period. But an upside of 23.2% will see the stock hit the forecast high price target while mean target price for the stock is $35.00.

Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 1,387,470 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 3,112,250 shares.

The top 3 mutual fund holders in Ping Identity Holding Corp. are ETFMG Prime Cyber Security ETF, L&G ISE Cyber Security UCITS ETF, and Polar Capital Funds Plc – Global. ETFMG Prime Cyber Security ETF owns 1.23 million shares of the company’s stock, all valued at over $39.52 million. The company sold 7792.0 shares recently to bring their total holdings to about 1.54% of the shares outstanding. Polar Capital Funds Plc – Global sold -0.19 million shares to bring its total holdings to over 0.91 million shares at a value of $29.23 million. Polar Capital Funds Plc – Global now owns shares totaling to 1.14% of the shares outstanding.

Shares of Ping Identity Holding Corp. (NYSE: PING) opened at $30.89, up $0.15 from a prior closing price of $30.74. However, the script later closed the day at $30.72, down -0.07%. The company’s stock has a 5-day price change of -2.85% and 24.68% over the past three months. It has a 12-month low price of $12.02 and touched a high of $35.35 over the same period. Currently, 2.75 million shares have been traded, compared to an average intraday trading volume of 1.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.74%, 5.60%, and 32.15% respectively.

Institutional ownership of Ping Identity Holding Corp. (NYSE: PING) shares accounts for 98.31% of the company’s 79.74M shares outstanding. Mutual fund holders own 6.74%, while other institutional holders and individual stakeholders account for 68.78% and 13.12% respectively.

It has a market capitalization of $2.41B. The stock’s trailing 12-month PE ratio is 1335.65, while the earnings-per-share (ttm) stands at $0.02. The company has a PEG of 111.03 and a Quick Ratio of 4.90 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.71% over the week and 6.56% over the month.

Analysts forecast that Ping Identity Holding Corp. (PING) will achieve an EPS of $0.01 for the current quarter, $0.05 for the next quarter and $0.4 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of $0.06. Earnings per share for the fiscal year are expected to increase by 87.40%, and 66.26% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Ping Identity Holding Corp. (PING) as a “Strong Buy” at a consensus score of 1.90. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 3 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the PING, a number of firms have released research notes about the stock. Robert W. Baird stated their Neutral rating for the stock in a research note on June 24, 2020, with the firm’s price target at $33. Piper Sandler coverage for the Ping Identity Holding Corp. (PING) stock in a research note released on May 27, 2020 offered a Overweight rating with a price target of $32. Dougherty & Company was of a view on April 16, 2020 that the stock is Neutral, while BTIG Research gave the stock Buy rating on March 27, 2020, issuing a price target of $25. Goldman on their part issued Neutral rating on January 21, 2020.


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