Stock Alert: Ping Identity Holding Down 7% On Weak Q2 Results, Outlook

(RTTNews) - Shares of Ping Identity Holding Corp. (PING) are losing more than 7 percent or $2.50 in Thursday's morning trade at $31.02 after the cyber-security company reported a loss for the second quarter and forecast third-quarter revenue below analysts' expectations.

Wednesday, Ping Holding reported second-quarter net loss of $2.92 million or $0.04 per share, compared to net income of $1.76 million or $0.03 per share in the year-ago period. Revenue for the quarter declined to $58.98 million from $62.46 million last year.

The company projected third-quarter revenue of $54.0 million to $57.0 million, but did not provide a full-year outlook due to uncertainties related to the COVID-19 pandemic. On average, analysts polled by Thomson Reuters expect the company to report revenues of $59.56 million for the quarter. Analysts' estimates typically exclude special items.

Ping Identity Holding has traded in a range of $12.02 to $37.80 in the past 52 weeks.