PING - Ping Identity - Stock And Valuation Near Bottom Time To Buy

• Following solid F2Q21 results, we are buying more shares of Ping at the current levels. The company beat consensus revenue, EPS, ARR, and free cash flow estimates.
• Ping has been impacted by the pandemic more than other companies in our coverage universe. The company expects business to recover quickly as the pandemic comes to an end.
• With the pandemic end looming, many enterprises, particularly in the affected industries of travel and hospitality, are building out their identity security ahead of potential business improvement.
• The stock is trading slightly above 52-week lows of around $20 and is still 40% below its 52-week highs of about $38, making the risk/reward favorable to investors.
• The company has products, growth drivers, compelling valuation, and potential multiple expansion to increase the stock price. Therefore, we urge investors to buy the stock here.

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