PagerDuty (NYSE:PD) Announces Quarterly Earnings Results

PagerDuty (NYSE:PD) posted its quarterly earnings data on Thursday. The company reported $0.22 earnings per share for the quarter, beating 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 business had revenue of $121.45 million for the quarter, compared to analysts’ expectations of $119.53 million. During the same period in the previous year, the firm posted $0.17 EPS. The business’s revenue was up 9.3% on a year-over-year basis.

PagerDuty Stock Performance

Shares of PD stock opened at $18.41 on Friday. The firm has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. The company has a 50 day moving average price of $18.24 and a 200-day moving average price of $18.69. PagerDuty has a 52 week low of $15.49 and a 52 week high of $23.85. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PD. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. Royal Bank of Canada decreased their price target on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday. Truist Financial lowered their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. The Goldman Sachs Group cut their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Canaccord Genuity Group lowered their target price on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.73.

Insider Buying and Selling

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now directly owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at $17,366,220. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,048 shares of company stock worth $186,699. 7.60% of the stock is owned by insiders.

PagerDuty declared that its board has initiated a stock buyback plan on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.