PagerDuty (NYSE:PD) Issues Earnings Results

PagerDuty (NYSE:PD) issued its earnings results on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter last year, the business earned $0.17 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year.

PagerDuty Stock Up 17.9 %

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

PagerDuty announced that its Board of Directors 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 buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on PD. Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Royal Bank of Canada reduced their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday. The Goldman Sachs Group cut their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. Finally, Truist Financial cut their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, PagerDuty has an average rating of “Hold” and an average target price of $20.73.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the business’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 transaction, the chief executive officer now 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 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 business’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 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. In the last quarter, insiders have sold 10,048 shares of company stock valued at $186,699. 7.60% of the stock is owned by insiders.

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.