Apps & Software

Raymond James Very Positive on 3 Cybersecurity Software Stocks Into Earnings

Ping Identity

This company is at the forefront of cybersecurity and has awesome growth potential. Ping Identity Holding Corp. (NYSE: PING) is a leader in identity access and management. Its products safeguard enterprise applications and data by providing controls around user authentication, access and more.

Ping’s single-sign-on technology helps streamline user workflow by providing a single password for multiple applications to reduce log-ins. Additional product features include consumer identity management, Internet of Things and application programming interface management. Ping differentiates with a history of complex deployments across hybrid networks.

The analysts have a Strong Buy rating and said this:

We believe the combination of:
1) favorable secular market trends that are in the early innings, but poised to accelerate.
2) Ping’s differentiated technology in both enterprise scale and burgeoning customer identity use cases.
3) proven ability to operate a profitable growth model make this an attractive asset at a reasonable price relative to the group.

The $40 Raymond James price target compares to a $35.73 consensus target. The last Ping Identity stock trade on Monday was reported at $32.73, up almost 5% on the day.


Investors may not be familiar with this company, but its stock has solid upside potential to the analyst target. Rapid7 Inc. (NASDAQ: RPD) engages in the provision of cybersecurity analytics and automation services. Its product includes an insight platform that offers InsightVM, InsightIDR, InsightAppSec and InsightConnect.

Rapid7 is advancing security with visibility, analytics and automation delivered through its Insight cloud. Its solutions simplify the complex, allowing security teams to work more effectively with IT and development to reduce vulnerabilities, monitor for malicious behavior, investigate and shut down attacks, and automate routine tasks. Some 8,400 customers rely on Rapid7 technology, services and research to improve security outcomes and securely advance their organizations.

The report pointed this out:

We think Rapid7’s core vulnerability management market represents an important pillar to a holistic security strategy, based on our conversations with customers, and is essentially a three-horse race with Rapid7, Qualys, and Tenable owning more than half of the market. We think the industry structure can sustain over the intermediate term as moats widen alongside platform expansions. As VM continues to broaden its value proposition, we see growth in both share of wallet from existing customers, and opportunity to acquire new customers, supporting a growth rate in line with the overall security market in the high-single-digit range.

The Raymond James price target is set at $70, near the $69.80 consensus target. Rapid7 stock closed at $61.33 on Monday.

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