Identity solutions company Ping Identity Holding Corp (PING) has announced the acquisition of SecuredTouch, a leading player in fraud and bot detection and mitigation. The financial terms of the deal have been kept under wraps. With this acquisition, SecuredTouch will become a part of the PingOne Cloud Platform.
CEO of Ping Identity Andre Durand said, “The acquisition of SecuredTouch accelerates our vision for cloud-delivered intelligent identity solutions that combat malicious behavior online.” (See Ping Identity Holding stock chart on TipRanks)
On May 24, Stifel Nicolaus analyst Adam Borg initiated a Hold rating on the stock with a price target of $26 (10.4% upside potential).
According to Borg, the stock has a number of drivers to push revenue growth over the next few years. However, the analyst believes the company will not go for any significant expansions due to increasing competition and insider overhang.
The stock has a Moderate Buy consensus rating based on 4 Buys and 4 Holds. The average Ping Identity analyst price target of $31.21 implies 32.5% upside potential from current levels. Shares have declined 30.7% over the past year.