Royal Bank of Canada Increases PagerDuty (NYSE:PD) Price Target to $24.00

PagerDuty (NYSE:PD) had its price target lifted by research analysts at Royal Bank of Canada from $22.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 17.42% from the company’s current price.

Several other equities analysts also recently weighed in on PD. Scotiabank cut their price target on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price objective on PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Bank of America lowered their price objective on PagerDuty from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Robert W. Baird lowered their price objective on PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, Morgan Stanley lowered their price objective on PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.00.

PagerDuty Stock Down 2.2 %

Shares of PD traded down $0.47 during mid-day trading on Wednesday, hitting $20.44. 763,890 shares of the company traded hands, compared to its average volume of 1,119,431. PagerDuty has a 1-year low of $16.46 and a 1-year high of $26.70. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.38. The company has a market capitalization of $1.90 billion, a PE ratio of -22.97 and a beta of 1.07. The business has a 50 day moving average of $18.68 and a 200 day moving average of $19.59.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The firm had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. During the same quarter in the prior year, the company posted ($0.18) earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that PagerDuty will post -0.37 EPS for the current year.

Insider Buying and Selling

In related news, CAO Mitra Rezvan sold 2,942 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction of $53,132.52. Following the completion of the sale, the chief accounting officer now directly owns 108,449 shares of the company’s stock, valued at approximately $1,958,588.94. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shelley Webb sold 6,246 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the sale, the insider now directly owns 216,572 shares of the company’s stock, valued at $3,924,284.64. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,396 shares of company stock valued at $1,733,561. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PagerDuty

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP boosted its stake in shares of PagerDuty by 1,537.2% in the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after buying an additional 1,322 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after buying an additional 508 shares during the period. Fred Alger Management LLC boosted its stake in shares of PagerDuty by 170.6% in 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 during the period. Cambridge Trust Co. purchased a new position in shares of PagerDuty in the 1st quarter valued at about $68,000. Finally, Headlands Technologies LLC purchased a new position in shares of PagerDuty in the 2nd quarter valued at about $114,000. 97.26% of the stock is currently 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.