Ping Identity Holding Corp Stock Price, News & Analysis

Ping Identity (NYSE: PING) has been recognized as a leader in the 2022 KuppingerCole Leadership Compass report for Access Management, marking its third consecutive year in this position. The report highlights Ping's strengths in Innovation, Market, Product, and Overall Leadership. Notable technological advantages include federation, single sign-on (SSO), superior authentication support, and analytics capabilities. CEO Andre Durand emphasized Ping Identity’s commitment to providing seamless and secure digital experiences for organizations adapting to evolving access challenges.

Ping Identity (NYSE: PING) has launched Ping Ventures, a $50 million corporate venture fund aimed at enhancing innovation in the identity security market. This fund will support early-stage technology companies that complement Ping Identity's product offerings. The initial investment targets Allthenticate, which specializes in unified access control and authentication solutions. Ping Ventures will also provide strategic partnerships and access to Ping's extensive resources.

Ping Identity (NYSE: PING) has collaborated with Yubico and EntryPoint to offer a no-code solution that delivers phishing-resistant Derived FIDO2 Credentials (DFCs) and centralized identity management for the US Federal Government.

This partnership enables enhanced security protocols that fulfill recent government requirements for multi-factor authentication. The solution incorporates Yubico's hardware security keys and EntryPoint's credential management, reinforcing organizational cybersecurity by minimizing risks associated with MFA vulnerabilities.

Ping Identity (NYSE: PING) has announced that its Identity, Credential, and Access Management (ICAM) products are now accessible to Federal agencies via the Carahsoft Amazon Web Services (AWS) Marketplace. This new listing facilitates the adoption of Zero Trust architecture, simplifying procurement and implementation for government entities facing stringent security requirements, including the White House's Executive Order on cybersecurity. The collaboration aims to support Federal agencies by enhancing their digital transformation initiatives and ensuring compliance with the latest ICAM policies and standards.

On June 1, 2022, Ping Identity announced its participation in several upcoming technology conferences. Highlights include the William Blair 42nd Annual Growth Stock Conference on June 6, 2022, at 1:40 p.m., the Bank of America Securities 2022 Global Technology Conference on June 9, 2022, at 3:45 p.m., and the Mizuho 4th Annual Cybersecurity Summit on June 13, 2022. Investors can access live audio webcasts and archived replays on Ping Identity's investor relations website.

Ping Identity (NYSE: PING) has been recognized by Expert Insights as a leader in various identity management categories, including Top Zero Trust Security Solution, Top Multi-Factor Authentication, Top Single Sign-On Solution, and Top Identity and Access Management Solution. The awards are based on factors such as product features, market presence, and customer satisfaction. CEO Andre Durand emphasized the importance of identity in digital security, highlighting Ping's two decades of delivering best-in-class solutions. This recognition underscores Ping’s commitment to security and innovation.

Ping Identity reported strong financial results for Q1 2022, with annual recurring revenue (ARR) growing 21% year-over-year to $323.5 million. Total revenue increased by 23% to $84.7 million, driven by a 68% growth in Software as a Service (SaaS) revenue. Despite a net cash outflow of $3.3 million from operating activities, the company achieved a dollar-based net retention rate of 114% and saw a 21% increase in high-value customers. The outlook for 2022 projects ARR between $380 million to $385 million.