PING Identity Holding Corp. (PING) stock is currently being traded at a price of $25.7 in the premarket with an increase of $3.34 (14.84%) since the last close. This surge came after the Q2 financial details were released. With an average trading volume of 564.111K, the PING stock has shown a bullish direction. Overall, in a month the company has shown a decline of 2.49%.
When the internet became mainstream all kind of information started pouring into it. Many businesses started building their online presence. Everything shifted to become automated shifted online. Data was stored virtually to allow easy access. But at the same time threats to business also became different. People could get access to your data through the help of the internet and sufficient information about the system. So different companies came forward with providing these solutions for their customers.
What is PING Identity Holding Corp. (PING) About?
PING is a software company that started back in 2002. Headed from Denver, Colorado the company provides secure digital solutions to their customers. The company provides its services to a number of industries i.e. financial, public and healthcare, etc. The platform has capabilities like Authentication, MFA (Multi factor Authentication), SSO (Single Sign On), API Access, and many more. They boast a number of notable clients including NETFLIX, HP, TESCO BANK and CHEVR0N. It is registered in NYSE under the symbol of “PING”.
PING Stock’s Financials and Partnerships
PING has recently released its Q2 financials. According to the data, a total revenue of $78.9M was generated in the second quarter as compared to $59M in the last year’s quarter. The subscription had the major holdings that brought in a total of 93% revenue that was generated. Overall, the company suffered a loss of $11M in the second quarter.
The company has plans to expand its working; it has acquired “SecuredTouch”, a company that specializes in bot attacks, identity risks, and fraud. The purpose is to expand their abilities to prevent Identity Fraud Capabilities. It has also improved a number of its features showing that they are continuously developing and improving their existing products. They have also won the award for “Best Identity Management Solution” from SC Awards 2021.
What’s ahead for PING stock?
The crux? PING stock holds a promising future if they continue partnering with different companies and organizations. It holds a respectable position in the field of IT solutions. Being partnered with some of the biggest multinational organizations and companies, they have created a strong portfolio.
