PagerDuty (NYSE:PD) PT Lowered to $19.00

PagerDuty (NYSE:PD) had its target price decreased by investment analysts at TD Cowen from $23.00 to $19.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target points to a potential upside of 6.15% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. started coverage on shares of PagerDuty in a research note on Thursday, June 27th. They set a “neutral” rating and a $24.00 target price for the company. Royal Bank of Canada reduced their price target on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday. The Goldman Sachs Group reduced their price target on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday. Scotiabank reduced their price target on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Bank of America reduced their price target on shares of PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.36.

PagerDuty Price Performance

Shares of NYSE PD traded down $0.39 during trading hours on Wednesday, hitting $17.90. 2,115,573 shares of the stock were exchanged, compared to its average volume of 1,216,822. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. The company has a market cap of $1.71 billion, a PE ratio of -17.77 and a beta of 1.07. The company’s fifty day simple moving average is $20.35 and its two-hundred day simple moving average is $21.11. PagerDuty has a 1-year low of $16.49 and a 1-year high of $26.70.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative net margin of 21.34% and a negative return on equity of 28.38%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) EPS. On average, sell-side analysts predict that PagerDuty will post -0.44 EPS for the current year.

Insider Activity

In related news, insider Shelley Webb sold 5,732 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $21.98, for a total value of $125,989.36. Following the transaction, the insider now owns 235,657 shares in the company, valued at approximately $5,179,740.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Shelley Webb sold 5,732 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $21.98, for a total transaction of $125,989.36. Following the completion of the sale, the insider now owns 235,657 shares of the company’s stock, valued at approximately $5,179,740.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $20.09, for a total transaction of $376,687.50. Following the sale, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at approximately $20,308,197.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,244 shares of company stock worth $2,316,980. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its position in PagerDuty by 28.0% in the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after buying an additional 508 shares during the last quarter. New York State Common Retirement Fund increased its stake in PagerDuty by 1.5% in the fourth quarter. New York State Common Retirement Fund now owns 36,356 shares of the company’s stock worth $842,000 after purchasing an additional 532 shares during the period. Envestnet Asset Management Inc. increased its stake in PagerDuty by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 123,247 shares of the company’s stock worth $2,826,000 after purchasing an additional 542 shares during the period. Arizona State Retirement System increased its stake in PagerDuty by 2.8% in the second quarter. Arizona State Retirement System now owns 24,667 shares of the company’s stock worth $566,000 after purchasing an additional 676 shares during the period. Finally, Mackenzie Financial Corp increased its stake in PagerDuty by 5.1% in the second quarter. Mackenzie Financial Corp now owns 17,735 shares of the company’s stock worth $407,000 after purchasing an additional 856 shares during the period. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Company Profile

PagerDuty, Inc engages in the operation of a digital operations management platform in the United States and internationally. The company's digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage machine learning to correlate, process, and predict opportunities and issues.