Analysts Set PagerDuty, Inc. (NYSE:PD) PT at $20.73

Shares of PagerDuty, Inc. (NYSE:PD) have received a consensus rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $20.73.

PD has been the subject of a number of research reports. JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Canaccord Genuity Group decreased their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Truist Financial cut their price target on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, March 14th. Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Finally, The Goldman Sachs Group lowered their target price on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, March 14th.

PagerDuty Price Performance

Shares of PagerDuty stock opened at $18.78 on Tuesday. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -23.47 and a beta of 1.12. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The stock’s 50-day simple moving average is $18.44 and its 200-day simple moving average is $18.70. PagerDuty has a 52 week low of $15.49 and a 52 week high of $23.40.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company 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 earned $0.17 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that PagerDuty will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 1,569 shares of the firm’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 directly owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the transaction, the insider now directly owns 199,122 shares in the company, 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. Insiders sold 10,048 shares of company stock valued at $186,699 over the last three months. 7.60% of the stock is owned by company insiders.

Institutional Trading of PagerDuty

A number of large investors have recently made changes to their positions in PD. AMI Asset Management Corp boosted its holdings in shares of PagerDuty by 154.2% in the fourth quarter. AMI Asset Management Corp now owns 56,156 shares of the company’s stock valued at $1,025,000 after purchasing an additional 34,063 shares during the period. Glenmede Trust Co. NA raised its position in PagerDuty by 11.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 721,633 shares of the company’s stock valued at $13,386,000 after purchasing an additional 75,771 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PagerDuty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock worth $39,915,000 after buying an additional 37,147 shares during the period. Intech Investment Management LLC bought a new position in shares of PagerDuty during the 3rd quarter worth $444,000. Finally, Franklin Resources Inc. increased its stake in shares of PagerDuty by 5.4% during the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after buying an additional 1,701 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.