PagerDuty (NYSE:PD) Releases Earnings Results, Beats Expectations By $0.06 EPS

PagerDuty (NYSE:PD) released its earnings results on Thursday. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06, Briefing.com reports. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same period in the previous year, the firm posted $0.17 EPS. PagerDuty’s revenue for the quarter was up 9.3% on a year-over-year basis.

PagerDuty Price Performance

PagerDuty stock opened at $15.56 on Friday. PagerDuty has a 12-month low of $15.49 and a 12-month high of $23.85. The firm’s 50-day moving average is $18.24 and its two-hundred day moving average is $18.70. The stock has a market capitalization of $1.40 billion, a P/E ratio of -19.45 and a beta of 1.12. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty declared that its board has initiated a share buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at approximately $17,366,220. This represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelley Webb sold 7,879 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the sale, the insider now directly owns 199,122 shares of the company’s stock, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,048 shares of company stock valued at $186,699. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on PagerDuty from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 price objective on shares of PagerDuty in a research note on Wednesday, December 11th. Finally, Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and dropped their target price for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.64.

About PagerDuty

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.