PING - Ping Identity Shares Still On Sale; 2021 Should Be Better Year For The Stock

• Recovery following a sell-off post-earnings provides an excellent opportunity to own a secular growth story tied to recent hackings at a discount.
• The sell-off of the stock was caused by commentary that the deals were getting smaller as customers were phasing in their purchases to conserve cash.
• Management commented that business momentum is returning and the pipeline visibility increased over the last few weeks as the company sounded more optimistic at the Credit Suisse conference.
• The SolarWind hack will force many companies to update their Identity and Access Management Systems in C2021, and we expect PING to benefit from this surge in spending.
• Ping is a reasonably valued high-growth and strategic company that is profitable. We expect the company to beat estimates when the report in January; We would be buying shares now.

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