Ping Identity (PING) Stock: Why The Price Increased Today

By Amit Chowdhry ● Mar 24, 2022
  • The stock price of Ping Identity Holding Corp (NYSE: PING) increased by over 7% during intraday trading today. This is why.

The stock price of Ping Identity Holding Corp (NYSE: PING) increased by over 7% during intraday trading today. Investors are responding positively to a bullish research report.

Stifel analyst Adam Borg upgraded Ping Identity to a “Buy” rating from a “Hold” rating while increasing the price target from $25 to $30.

Borg pointed out that Identity and Access Management (IAM) is a foundational cybersecurity technology and Ping offers a leading enterprise-focused IAM platform. And Borg pointed out that he has been warming up to the name in recent months.

Plus Borg believes that the potential fallout from Okta’s breach could serve as an additional positive catalyst for Ping. Going forward, Borg believes that the company is positioned to deliver at least 20% ARR growth in the coming periods. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.