IPO Report: Ping IPO pops 34% in debut [MarketWatch]
Ping Identity Holding Corp. (PING)
Last ping identity holding corp. earnings: 3/4 04:10 pm
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Source: MarketWatch
Ping IPO pops 34% in debut It’s not the sexiest tech IPO in a year of A-list names, but shares of Ping Identity Holding Corp. are up sharply, pushing the software company past $1 billion in market value. While highly-touted initial public offerings from Uber Technologies Inc. UBER, -1.28% and Lyft Inc. LYFT, +1.42% stalled out of the blocks, Ping’s stock PING, +34.07% surged 34% to $20.07 on its trading debut Thursday . “We think of this as a starting point rather than the finish line,” Ping Chief Financial Officer Raj Dani told MarketWatch in a phone interview. The stock of the Denver-based software company, which provides mission-critical identity security to some of the largest companies in the world including Thomson Reuters Corp. TRI, +0.27% and Blue Cross Blue Shield of Tennessee, was priced at $15 late Wednesday . Ping sold 12.5 million shares in the IPO to raise $187.5 million. With 77.6 million shares outstanding after the IPO, the pricing pegged Ping’s market val
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