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Benzinga
Benzinga
Business
Anusuya Lahiri

Ping Shares Jump On Rating Upgrade By Stifel

Ping (Organization) Stifel Nasdaq NYSE Okta Inc
  • Stifel analyst Adam Borg upgraded Ping Identity Holding Corp (NYSE:PING) to Buy from Hold with a price target of $30, up from $25, implying an upside of 16%.
  • Ping offers an enterprise-focused Identity and Access Management (IAM) platform, a foundational cybersecurity technology.
  • The potential fallout from Okta Inc's (NASDAQ:OKTA) breach can be an additional positive driver for Ping.
  • He thinks it will deliver at least 20% ARR growth in the coming periods.
  • Price Action: PING shares traded higher by 7.14% at $25.83 on the last check Thursday.
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