PagerDuty (NYSE:PD) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

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

PagerDuty Price Performance

PD stock opened at $18.41 on Friday. The company has a market capitalization of $1.66 billion, a P/E ratio of -23.01 and a beta of 1.12. PagerDuty has a twelve month low of $15.49 and a twelve month high of $23.85. The business has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $18.69. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

Wall Street Analysts Forecast Growth

PD has been the topic of a number of recent research reports. The Goldman Sachs Group cut their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. Canaccord Genuity Group cut their price target on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday. Truist Financial cut their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and cut their price target for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lowered their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.73.

Insider Activity

In other news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the sale, the insider now 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. Over the last ninety days, insiders sold 10,048 shares of company stock valued at $186,699. 7.60% of the stock is currently owned by company insiders.

PagerDuty announced that its board has authorized a stock buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management 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.