Craig Hallum Cuts PagerDuty (NYSE:PD) Price Target to $26.00

PagerDuty (NYSE:PD) had its target price lowered by Craig Hallum from $30.00 to $26.00 in a research report report published on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other research firms have also commented on PD. The Goldman Sachs Group began coverage on shares of PagerDuty in a research report on Thursday, July 18th. They issued a neutral rating and a $24.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of PagerDuty in a research report on Thursday, June 27th. They set a neutral rating and a $24.00 target price for the company. Scotiabank dropped their target price on shares of PagerDuty from $23.00 to $18.00 and set a sector perform rating for the company in a research report on Wednesday. Morgan Stanley dropped their target price on shares of PagerDuty from $24.00 to $19.00 and set an equal weight rating for the company in a research report on Wednesday. Finally, Bank of America dropped their target price on shares of PagerDuty from $28.00 to $23.00 and set a buy rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $21.91.

PagerDuty Price Performance

PD stock opened at $17.78 on Wednesday. The firm has a 50 day moving average of $20.18 and a 200-day moving average of $21.07. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58. PagerDuty has a 12 month low of $16.46 and a 12 month high of $26.70. The firm has a market capitalization of $1.70 billion, a P/E ratio of -17.60 and a beta of 1.05.

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

Insider Buying and Selling

In related news, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the transaction, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at $20,308,197.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the transaction, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at $20,308,197.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shelley Webb sold 5,732 shares of PagerDuty stock in a transaction on Friday, July 5th. The stock was sold at an average price of $21.98, for a total transaction of $125,989.36. Following the completion of the transaction, the insider now directly owns 235,657 shares in the company, valued at $5,179,740.86. The disclosure for this sale can be found here. Insiders have sold a total of 110,244 shares of company stock valued at $2,316,980 over the last three months. 7.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its position in PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after purchasing an additional 1,322 shares during the period. First Horizon Advisors Inc. increased its position in PagerDuty by 28.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after purchasing an additional 508 shares during the period. Fred Alger Management LLC boosted its holdings in shares of PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock valued at $57,000 after buying an additional 1,578 shares in the last quarter. Cambridge Trust Co. bought a new stake in shares of PagerDuty during the 1st quarter valued at $68,000. Finally, Headlands Technologies LLC bought a new stake in shares of PagerDuty during the 2nd quarter valued at $114,000. 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.