Ping Shares Jump On Rating Upgrade By Stifel

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.