Goldman Sachs took its Ping Identity Holding [PING] rating to the equivalent of Buy from Neutral, and the price target to $34.0, in a research note dated 2021-01-08. That figure represents around a 19.21% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Piper Sandler’s analysts downgrading the shares from “an Overweight” rating to “a Neutral” rating in a research note to investors issued in early November. Meanwhile, Mizuho had lowered its rating on PING to “Neutral” from the earlier “Buy”, in a research note produced for clients October 12, 2020.
Is Ping Identity Holding Corp. [NYSE:PING] a Good Buy Right Now?
It should be noted that PING technical indicators for short, intermediate as well as long term progress have placed an overall average of 24% as Sell. The average signal changed from 24% Sell in the last week and compares with 72% Sell in the past month. Data from Ping Identity Holding Corp.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.17 million shares in the past 20 days and the short term average signal indicates a Hold. In the last 50 days, the average trading volume was 1.47 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 50% Sell and the 100-day average volume stands at 1.11 million shares.
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PING Price Performance
On Wall Street, Ping Identity Holding Corp. [NYSE:PING] finished Thursday’s session up 4.51% at $28.51. The stock went up to $28.68 at the same session while its lowest single day price was $27.23. In the last five days, it saw a rise of about 0.49%, Ping Identity Holding Corp. shares dropped by almost -0.45% since the beginning of the year. However, the share price has dropped to as low as -24.58% below its one year high. On 01/04/21, the company shares recorded $28.77, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $26.59. The company’s shares have inclined by 13.50% in the past year. The 50-day SMA achieved is $25.55 while the 200-day SMA is $28.77. Volume dropped to 0.91 million from 1.38 million in the previous session.
PING Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 27.60 level, and in case of violation of this particular level, it will cause more drop to 26.69 level. On the upper level, 29.59 is still the key resistance. The stock may increase to the subsequent resistance at 29.05. The Relative Strength Index (RSI) pinned on the 14-day chart is 57.66, implying a neutral technical stance while the MACD stands at -0.65, meaning price will decrease in the next trading period. Percent R indicator moved to 49.74%, implying low price movement. Stochastic %K at 38.13% suggest selling the stock.
What is the short interest in Ping Identity Holding Corp.?
Short interest in the Ping Identity Holding Corp. stock has surged, increasing by 0.98 million shares to total 4.3 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 5.28 million, data from Yahoo Finance shows. The decrease of -22.79% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 25.17% of the overall float for the stock.
Ping Identity Holding Corp.’s Biggest Shareholders: Who Owns Ping Identity Holding Corp. [PING]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 5,289,258 shares or roughly 6.52% of the outstanding PING shares. This means their shares have increased by 4,403,044 from the 5,289,258 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $71,369,339. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 76.39% stake valued at $51,299,937 while AllianceBernstein LP added theirs at $48,925,466. During the last quarter, BlackRock Fund Advisors raised 987,863 of its shares in Ping Identity Holding Corp. while AllianceBernstein LP bought 2,132,732 shares. The Massachusetts Financial Services’s holdings currently number 1,911,739 shares at $54503678.89. According to the firm’s last 13F report, Polar Capital LLP shares in the company at filing stood at 1,895,624 shares, roughly $42,632,584.
PING Earnings Forecast For The Current Quarter
Ping Identity Holding Corp. [PING] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $68.82M and an earnings per share of $0.08 for Dec 2020. Looking further ahead, the company is expected to report revenue of $67.47M at an EPS of $0.08 for Mar 2021. The estimates represent upside of 16.00% and 21.34% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PING Earnings Estimates For The Current Year
For the financial year, Ping Identity Holding Corp. [NYSE:PING] is expected to bring in revenue of $249.17M. The returns are nearly $6.27 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.33, lower than that of FY19 by -$0.11. Estimates put this year’s earnings growth at -25.00%, 21.20% for the next, and at an annual 6.30% over the next 5-year period. As for sales, forecasts are for an increase of 2.60% in the current fiscal year and a further 16.00% over the following year.