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Ping Identity - Stock And Valuation Near Bottom, Time To Buy

Aug. 05, 2021 1:12 AM ETPing Identity Holding Corp. (PING)40 Comments


  • Following solid F2Q21 results, we are buying more shares of Ping at the current levels. The company beat consensus revenue, EPS, ARR, and free cash flow estimates.
  • Ping has been impacted by the pandemic more than other companies in our coverage universe. The company expects business to recover quickly as the pandemic comes to an end.
  • With the pandemic end looming, many enterprises, particularly in the affected industries of travel and hospitality, are building out their identity security ahead of potential business improvement.
  • The stock is trading slightly above 52-week lows of around $20 and is still 40% below its 52-week highs of about $38, making the risk/reward favorable to investors.
  • The company has products, growth drivers, compelling valuation, and potential multiple expansion to increase the stock price. Therefore, we urge investors to buy the stock here.
Fingerprint Biometric Digital Scan Technology.
Blue Planet Studio/iStock via Getty Images

Following Ping Identity’s (NYSE:PING) blowout quarter, we reiterate our buy rating on the stock. Over the last several quarters, Ping has underperformed both its peers and the broad market as the Covid Pandemic disproportionately impacted its enterprise customers. This underperformance could be a

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of PING either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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