Ping Identity Holding Corp. (NYSE: PING) stock fell -0.28% on Friday to $28.00 against a previous-day closing price of $28.08. With 9.0 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.42 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $28.14 whereas the lowest price it dropped to was $27.86. The 52-week range on PING shows that it touched its highest point at $30.40 and its lowest point at $15.85 during that stretch. It currently has a 1-year price target of $28.36.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PING was up-trending over the past week, with a rise of 60.92%, but this was up by 43.22% over a month. Three-month performance surged to 2.75% while six-month performance rose 46.75%. The stock gained 25.22% in the past year, while it has gained 22.38% so far this year. A look at the trailing 12-month EPS for PING yields -0.83 with Next year EPS estimates of -0.04. For the next quarter, that number is -0.11. This implies an EPS growth rate of -429.20% for this year and 103.60% for next year.
Float and Shares Shorts:
At present, 83.82 million PING shares are outstanding with a float of 70.74 million shares on hand for trading. On Jul 14, 2022, short shares totaled 8.82 million, which was 10.34% higher than short shares on Jun 14, 2022. In addition to Mr. Andre Wong Durand as the firm’s Founder, CEO & Director, Mr. Raj M. Dani serves as its CFO, Principal Financial Officer & Principal Accounting Officer.
Through their ownership of 92.73% of PING’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.38% of PING, in contrast to 39.76% held by mutual funds. Shares owned by individuals account for 26.12%. As the largest shareholder in PING with 7.18% of the stake, The Vanguard Group, Inc. holds 6,125,696 shares worth 6,125,696. A second-largest stockholder of PING, Legal & General Investment Manage, holds 5,129,779 shares, controlling over 6.02% of the firm’s shares. Senvest Management LLC is the third largest shareholder in PING, holding 4,325,361 shares or 5.07% stake. With a 5.35% stake in PING, the L&G ISE Cyber Security UCITS ETF is the largest stakeholder. A total of 4,565,688 shares are owned by the mutual fund manager. The First Trust NASDAQ Cybersecurity, which owns about 3.82% of PING stock, is the second-largest Mutual Fund holder. It holds 3,259,240 shares valued at 59.12 million. Fidelity Funds SICAV – Global Tec holds 2.86% of the stake in PING, owning 2,440,661 shares worth 44.27 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, PING reported revenue of $84.69M and operating income of -$16.00M. Over the past year, revenue came in at $315.20M while operating income stood at -$77.09M. It generated -$20.26M net income for the quarter, which came to -$68.72M over the last twelve months. The EBITDA in the recently reported quarter was -$3.90M and diluted EPS was -$0.24. EBITDA for the full year was -$32.45M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PING since 14 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 11 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PING analysts setting a high price target of $28.50 and a low target of $28.00, the average target price over the next 12 months is $28.44. Based on these targets, PING could surge 1.79% to reach the target high and fall by 0.0% to reach the target low. Reaching the average price target will result in a growth of 1.57% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PING will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of -$0.12 being high and -$0.75 being low. For PING, this leads to a yearly average estimate of -$0.53. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ping Identity Holding Corp. surprised analysts by -$0.22 when it reported -$0.34 EPS against a consensus estimate of -$0.12. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.23. The average estimate for the next quarter is thus -$0.12.
Summary of Insider Activity:
Insiders traded PING stock several times over the past three months with 7 Buys and 0 Sells. In these transactions, 42,386 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 1,286,557 while 18,850,537 shares were sold.