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PING - Ping Identity: Patient Investors Will Be Rewarded
Ping Identity Holding Corp
Ping Identity (PING) reported strong F2Q20 results beating both on revenue and EPS. However, the company issued guidance that fell below consensus estimates. Revenue was $59.0 million versus the consensus estimate of $53.8 million. EPS was $0.08 versus the consensus of $0.02. Higher revenue and lower than expected Opex drove EPS upside. Ping issued lackluster guidance with the company guiding revenue in the range of $54-57 million with the midpoint $55.5 million, down 10% Y/Y versus prior consensus of $58.5 million. The following chart illustrates the F2Q20 financial highlights: