Ping Identity stock drops 11
Shares of Ping Identity Holding Corp. fell nearly 11% in the extended session Wednesday after the software company missed fourth-quarter sales expectations. Ping said it lost $3.4 million, or 4 cents a share, in the quarter, contrasting with earnings of $2.2 million, or 3 cents a share, in the year-ago quarter. Adjusted for one-time items, Ping earned 9 cents a share, compared with 14 cents a share a year ago. Sales fell to $63.3 million, from $68.2 million a year ago. Analysts polled by FactSet had expected Ping to report adjusted earnings of 9 cents a share on sales of $68.9 million. The company guided for first-quarter revenue between $61.5 million and $63.5 million, and it also reinstated its outlook, calling for 2021 revenue between $255 million and $265 million.
Portions of Ping Identity Holding Corp. fell almost 11% in the all-encompassing meeting Wednesday after the product organization missed final quarter deals assumptions. Ping said it lost $3.4 million, or 4 pennies an offer, in the quarter, appearing differently in relation to income of $2.2 million, or 3 pennies an offer, in the year-prior quarter. Adapted to one-time things, Ping procured 9 pennies an offer, contrasted and 14 pennies an offer a year prior. Deals tumbled to $63.3 million, from $68.2 million per year prior. Experts surveyed by FactSet had anticipated that Ping should report changed profit of 9 pennies an offer on deals of $68.9 million. The organization guided for first-quarter income between $61.5 million and $63.5 million, and it additionally restored its viewpoint, calling for 2021 income between $255 million and $265 million.