Ping Identity Holding Corp is a Zacks Rank #5 (Strong Sell) after missing the number in the most recent earnings release. Despite missing the number, the stock has seen a big move to the upside. Let’s look at why this stock is a Zacks Rank #5 (Strong Sell) and in this Bear of the Day article.
Description
Ping Identity Holding Corp. is a pioneering Intelligent Identity company. It provides flexible options to extend hybrid IT environments and accelerate digital business initiatives with multi-factor authentication, single sign-on, access management, intelligent API security, directory and data governance capabilities. Ping Intelligent Identity(TM) platform provides customers, employees, partners and increasingly, IoT, with access to cloud, mobile, SaaS and on-premises applications and APIs, while also managing identity and profile data at scale. Ping Identity Holding Corp. is based in Denver, Colorado.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
In the case of PING, I see one miss and threes beats of the Zacks Consensus Estimate. This alone does not make the stock a Zacks Rank #1 (Strong Buy) and it doesn’t make it a Zacks Rank #5 (Strong Sell) either.
The Zacks Rank does care about the earnings history, but it is much more heavily influenced by the movement of earnings estimates.
Earnings Estimates
The Zacks Rank tells us which stocks are seeing earnings estimates move higher or in this case lower. For PING I see annual estimates moving lower.
The Zacks Rank is more heavily influenced by the move in the annual numbers, and the movement is mixed for those numbers.
The current year 2022 consensus number has dropped from a gain of $0.35 to a loss $0.09.
The next year has dropped from $0.53 to $0.13 over the last 60 days.
Negative movement in earnings estimates like that is why this stock is a Zacks Rank #5 (Strong Sell).
It should be noted that a majority of stocks in the Zacks universe are seeing positive earnings estimate revisions. That means that the stocks that are seeing small but negative earnings estimate revisions are falling to a Zacks Rank #5 (Strong Sell).
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Bear Of The Day: Ping Identity Holding (PING)
Ping Identity Holding Corp is a Zacks Rank #5 (Strong Sell) after missing the number in the most recent earnings release. Despite missing the number, the stock has seen a big move to the upside. Let’s look at why this stock is a Zacks Rank #5 (Strong Sell) and in this Bear of the Day article.
Description
Ping Identity Holding Corp. is a pioneering Intelligent Identity company. It provides flexible options to extend hybrid IT environments and accelerate digital business initiatives with multi-factor authentication, single sign-on, access management, intelligent API security, directory and data governance capabilities. Ping Intelligent Identity(TM) platform provides customers, employees, partners and increasingly, IoT, with access to cloud, mobile, SaaS and on-premises applications and APIs, while also managing identity and profile data at scale. Ping Identity Holding Corp. is based in Denver, Colorado.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
In the case of PING, I see one miss and threes beats of the Zacks Consensus Estimate. This alone does not make the stock a Zacks Rank #1 (Strong Buy) and it doesn’t make it a Zacks Rank #5 (Strong Sell) either.
The Zacks Rank does care about the earnings history, but it is much more heavily influenced by the movement of earnings estimates.
Earnings Estimates
The Zacks Rank tells us which stocks are seeing earnings estimates move higher or in this case lower. For PING I see annual estimates moving lower.
The Zacks Rank is more heavily influenced by the move in the annual numbers, and the movement is mixed for those numbers.
The current year 2022 consensus number has dropped from a gain of $0.35 to a loss $0.09.
The next year has dropped from $0.53 to $0.13 over the last 60 days.
Negative movement in earnings estimates like that is why this stock is a Zacks Rank #5 (Strong Sell).
It should be noted that a majority of stocks in the Zacks universe are seeing positive earnings estimate revisions. That means that the stocks that are seeing small but negative earnings estimate revisions are falling to a Zacks Rank #5 (Strong Sell).
Ping Identity Holding Corp. Price and Consensus
Ping Identity Holding Corp. price-consensus-chart | Ping Identity Holding Corp. Quote