Sitting on a Cash Pile 2.0: ‘Ping is the Thing’

Sitting on a Cash Pile 2.0: ‘Ping is the Thing’

$PING

Ping (NYSE:PING) Broke out on 16 April after shares of the cyber, data security company were hammered after its IPO and have just marked a 52 wk high.

The support for PING is deep beginning at 31.66, the resistance is Nil, all of our Key technical indicators have turned Very Bullish and I am Very Bullish the stock across the board.

Peers are trading at 100+/share, Ping looks comparatively cheap in here . The technicals are saying Ping is the Thing, Buy.

Ping Identity Holding Corp. is a leader in identity access and management. Its products safeguard enterprise applications and data by providing controls around user authentication, access and more.

Ping’s single-sign-on technology helps streamline user workflow by providing a single password for multiple applications to reduce log-ins. Additional product features include consumer identity management, Internet of Things (IoT) and application programming interface (API)  management.

Ping differentiates with a history of complex deployments across hybrid networks.

The Ping Intelligent Identity platform provides customers, employees, partners and, increasingly, IoT with access to cloud, mobile, software as a service (SaaS) and on-premises applications and APIs, while also managing identity and profile data at scale.

Over half of the Fortune 100 choose to use the company for the identity expertise, open standards leadership and partnership with companies including Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN).

A Key Wall Street analyst turned Very Bullish on identity stocks and noted this: For Ping, we raise our PO which is now based on roughly 8X enterprise value to sales Vs 7X prior, as we believe its cloud transition, sticky large enterprise customer base, and expansion with products may help close the valuation gap Vs peer Okta (NASDAQ:OKTA) trading at 25X at 198.19.

The 27 BofA Securities price target was lifted to 32. The consensus target was 28.08 at the call. Ping Identity closed Friday at 32.10 after marking a 52 wk high at 35.35.

Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions for the enterprise in the United States and internationally.

Its Ping Intelligent Identity platform provides customers, workforce, and partners with access to cloud, mobile, Software-as-a-Service, and on-premise applications. The company’s platform offers solutions, such as secure single sign-on; multi-factor authentication; security control for applications and APIs, or access security; personalized and unified profile directories; data governance to control access to identity data; and AI and machine learning powered API security. Its customers include enterprises in Fortune 100, US banks, bio-pharmaceutical companies, healthcare plans, and US retailers.

The company was formerly known as Roaring Fork Holding, Inc. and changed its name to Ping Identity Holding Corp. in August 2019. Ping Identity Holding Corp. was incorporated in Y 2016 and is HQ’d in Denver, Colorado.

Have a healthy weekend, Keep the Faith!

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge. Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.