Wells Fargo & Co Raises Ping Identity (NYSE:PING) Price Target to $32.50

Ping Identity (NYSE:PING) had its price target hoisted by Wells Fargo & Co from $22.50 to $32.50 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts also recently commented on the stock. Mizuho increased their price objective on shares of Ping Identity from $20.00 to $22.00 and gave the company a buy rating in a research report on Thursday, November 14th. Credit Suisse Group increased their price objective on shares of Ping Identity from $21.00 to $28.00 and gave the company an outperform rating in a research report on Monday, January 13th. Bank of America assumed coverage on shares of Ping Identity in a research report on Monday, October 14th. They issued a buy rating and a $21.00 price objective on the stock. Deutsche Bank assumed coverage on shares of Ping Identity in a research report on Monday, October 14th. They issued a buy rating and a $21.00 price objective on the stock. Finally, William Blair assumed coverage on shares of Ping Identity in a research report on Monday, October 14th. They issued an outperform rating and a $21.00 price objective on the stock. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $23.27.

Ping Identity stock opened at $25.65 on Thursday. Ping Identity has a 52-week low of $15.22 and a 52-week high of $28.01. The business’s 50 day simple moving average is $23.66.

Ping Identity (NYSE:PING) last released its earnings results on Wednesday, November 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.12. The business had revenue of $61.77 million for the quarter, compared to analyst estimates of $55.12 million. Equities analysts predict that Ping Identity will post 0.38 earnings per share for the current year.

Several large investors have recently made changes to their positions in PING. Vista Equity Partners Management LLC purchased a new position in shares of Ping Identity in the 3rd quarter valued at $1,093,089,000. Point72 Asset Management L.P. purchased a new position in shares of Ping Identity in the 3rd quarter valued at $9,488,000. Taylor Wealth Management Partners purchased a new position in shares of Ping Identity in the 3rd quarter valued at $843,000. Millennium Management LLC purchased a new position in shares of Ping Identity in the 3rd quarter valued at $789,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Ping Identity in the 3rd quarter valued at $531,000. 96.28% of the stock is currently owned by institutional investors.

Ping Identity Company Profile

Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions in the United States and internationally. It operates an Intelligent Identity platform, which offers secure access to any service, application, or application programming interface (API) to customers, employees, partners, and the Internet of Things.

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