PING recent trend: now is a good time to buy PING stocks?

February 1, 2023

It is never too late to invest in PING stocks. If you want to know, "Is it the right time to buy PING?" Then we can't answer this question for you. However, if you are looking for a compelling reason to explain why now is the right time to buy PING, then read on!

PING Identity Holding Company

Ping Identity Corp. is a cloud security company that provides identity verification and access management services.

Ping Holding Corporation is a public company located in Denver, Colorado, with more than 200 employees. The company has maintained very stable growth in the past five years, and its business model is focused on continuously expanding its product line. The company was founded in 2002 and has been publicly traded since 2014.

Comprehensive cloud solution

Ping Security, PingFederate, Ping Access Now, and Ping One are all cloud-based solutions that allow organizations to protect their data and ensure that all their employees have secure access to network resources. This is done through an authentication system using software tokens or smart cards. Ping Identity also has a series of products called Ping One, which allows single sign-on across a variety of applications and data sources.

PING's current inventory rate

As of October 21, 27, PING's current trading price is $28.32 per share. Since this time last week, the stock has been falling (-0.32%). However, in the past year, PING has been mixed up and down, and the price has fluctuated greatly. Since this time last year, it has fallen from US$40.00 per share to the current US$28 (-1.13%).

In the short term, PING has seen some large fluctuations in either direction, but there is no clear pattern of price movements. At the same interest rate in the past few weeks, investors have not seen much difference in the moving price of stocks. The current market value of the PING identity is 2.299b and the expected target is 32.46, which is very impressive.

PING Identity's total revenue and growth

PING identity is currently growing significantly, because the total revenue in June this year was US$279.6 million, or US$78.9 million, which was higher than last year’s US$58.9 million. More precisely, the growth rate has increased by 19% over the previous year.

Market position of PING identity

As far as Ping Identity Corporation’s industry competitors are concerned, the company is largely surrounded by other cloud-based security providers. The market space it occupies is fiercely competitive and crowded with well-known companies with various network security methods such as Microsoft, Oracle, IBM, and Symantec.

Although larger companies have wider influence and better visibility, they are newbies in the cloud-based security field. As recent data breaches put customer information at risk, companies that provide cloud-based security are becoming more and more popular. These big companies are trying to switch to this new type of service to keep up with their direct competition.

Final words

Although Ping has many hopes as a cloud-based security provider, it is difficult to determine whether the current level of stock prices will continue to rise. The stock price fluctuates very sharply, which may indicate that the market may be waiting for clearer news from the company before investing heavily. But people can clearly see the company's progress. However, some challenges from competitors may hinder the company's ability to move forward. So let us wait and see.