Ping Identity stock declines as revenue outlook less than Street expected

Ping Identity Holding Corp. shares declined in the extended session Wednesday after the cybersecurity company's outlook fell short of Wall Street expectations. Ping shares declined 4.7% after hours, following a 0.1% decline in the regular session to close at $33.52. The company expects revenue of $54 million to $57 million, while analysts surveyed by FactSet had forecast on revenue of $60 million. Ping reported a second-quarter loss of $2.9 million, or 4 cents a share, versus net income of $1.8 million, or 3 cents a share, in the year-ago period. Adjusted earnings, excluding stock-based compensation and other items, were 8 cents a share. Revenue declined to $59 million from $62.5 million in the year-ago quarter. Analysts had forecast earnings of 2 cents a share on revenue of $53.8 million.

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