Ping Identity stock surges 20% after results top Street estimates

1 month ago 14
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Ping Identity Holding Corp. shares rallied successful the extended league Wednesday aft the cybersecurity company’s quarterly results exceeded Wall Street expectations.

Ping PING, +1.68% shares surged 20% aft hours, pursuing a 1.7% emergence successful the regular league to adjacent astatine $22.36.

The institution reported a second-quarter nonaccomplishment of $11 million, oregon 13 cents a share, compared with a nonaccomplishment of $3.3 million, oregon 4 cents a share, successful the year-ago period.

Adjusted earnings, which excludes stock-based compensation expenses and different items, were 11 cents a share, compared with 8 cents a stock successful the year-ago period.

Revenue roseate to $78.9 cardinal from $59 cardinal successful the year-ago quarter, and ARR roseate 19% to $279.6 million.

Analysts had forecast net of 4 cents a stock connected gross of $66.1 cardinal and ARR of $273.2 million. ARR, oregon yearly recurring revenue, is simply a software-as-a-service metric that shows however overmuch gross the institution tin expect based connected subscriptions.

Ping expects third-quarter gross of $65 cardinal to $75 cardinal and ARR of $286 cardinal to $288 million, and gross of $278 cardinal to $285 cardinal and ARR of $304 cardinal to $306 cardinal for the year.

Analysts surveyed by FactSet had forecast connected gross of $68.3 cardinal and ARR of $282 cardinal for the quarter, and gross of $269.4 cardinal and ARR of $299.8 cardinal for the year.

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