PagerDuty (NYSE:PD) PT Lowered to $22.00

PagerDuty (NYSE:PD) had its price objective trimmed by Royal Bank of Canada from $27.00 to $22.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Craig Hallum lowered their target price on shares of PagerDuty from $30.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday. The Goldman Sachs Group started coverage on PagerDuty in a research report on Thursday, July 18th. They issued a neutral rating and a $24.00 price target on the stock. Morgan Stanley lowered their price target on PagerDuty from $24.00 to $19.00 and set an equal weight rating on the stock in a research report on Wednesday. Scotiabank lowered their price target on PagerDuty from $23.00 to $18.00 and set a sector perform rating on the stock in a research report on Wednesday. Finally, Robert W. Baird lowered their price target on PagerDuty from $22.00 to $18.00 and set a neutral rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $21.91.

PagerDuty Trading Down 4.5 %

NYSE PD opened at $17.78 on Wednesday. PagerDuty has a 1-year low of $16.46 and a 1-year high of $26.70. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $1.70 billion, a PE ratio of -17.60 and a beta of 1.05. The firm’s fifty day simple moving average is $20.18 and its 200-day simple moving average is $21.07.

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

Insiders Place Their Bets

In other PagerDuty news, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were 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 owns 235,657 shares in the company, valued at $5,179,740.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PagerDuty news, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were 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 owns 235,657 shares in the company, valued at $5,179,740.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Tejada sold 2,000 shares of PagerDuty stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total transaction of $44,000.00. Following the completion of the transaction, the chief executive officer now owns 1,015,637 shares of the company’s stock, valued at approximately $22,344,014. The disclosure for this sale can be found here. Insiders sold a total of 110,244 shares of company stock worth $2,316,980 over the last quarter. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PD. Quarry LP increased its holdings in shares of PagerDuty by 1,537.2% in the second quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after purchasing an additional 1,322 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of PagerDuty by 28.0% in the second 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 in the last quarter. Fred Alger Management LLC increased its holdings in shares of PagerDuty by 170.6% in the second quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock valued at $57,000 after purchasing an additional 1,578 shares in the last quarter. Cambridge Trust Co. acquired a new stake in shares of PagerDuty in the first quarter valued at approximately $68,000. Finally, Headlands Technologies LLC acquired a new stake in shares of PagerDuty in the second quarter valued at approximately $114,000. Institutional investors own 97.26% of the company’s stock.

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.