Scotiabank Cuts PagerDuty (NYSE:PD) Price Target to $18.00

PagerDuty (NYSE:PD) had its price target trimmed by Scotiabank from $23.00 to $18.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other equities analysts have also recently commented on PD. Robert W. Baird reduced their target price on PagerDuty from $22.00 to $18.00 and set a neutral rating for the company in a report on Wednesday. Canaccord Genuity Group decreased their price objective on PagerDuty from $27.00 to $26.00 and set a buy rating on the stock in a report on Friday, May 31st. 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 report on Wednesday. JPMorgan Chase & Co. started coverage on shares of PagerDuty in a research note on Thursday, June 27th. They issued a neutral rating and a $24.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of PagerDuty in a research note on Thursday, July 18th. They set a neutral rating and a $24.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $21.91.

PagerDuty Price Performance

PagerDuty stock opened at $17.78 on Wednesday. The stock has a market capitalization of $1.70 billion, a P/E ratio of -17.60 and a beta of 1.05. The company’s fifty day moving average price is $20.08 and its 200 day moving average price is $21.01. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. PagerDuty has a 1 year low of $16.46 and a 1 year high of $26.70.

PagerDuty (NYSE:PD) last announced its earnings results 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 21.34% and a negative return on equity of 28.38%. The business had revenue of $115.94 million for the quarter, compared to analyst estimates of $116.52 million. During the same quarter last year, the business earned ($0.18) earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PagerDuty will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 2,000 shares of the firm’s 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 sale, the chief executive officer now owns 1,015,637 shares in the company, valued at approximately $22,344,014. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other PagerDuty news, CFO Howard Wilson sold 12,108 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total value of $248,092.92. Following the transaction, the chief financial officer now owns 594,202 shares of the company’s stock, valued at $12,175,198.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Tejada sold 2,000 shares of PagerDuty stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total transaction of $44,000.00. Following the sale, the chief executive officer now owns 1,015,637 shares of the company’s stock, valued at $22,344,014. The disclosure for this sale can be found here. Insiders have sold 110,244 shares of company stock worth $2,316,980 in the last ninety days. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On PagerDuty

A number of hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in shares of PagerDuty by 28.0% during the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after buying an additional 508 shares during the period. New York State Common Retirement Fund boosted its holdings in PagerDuty by 1.5% during the 4th quarter. New York State Common Retirement Fund now owns 36,356 shares of the company’s stock valued at $842,000 after acquiring an additional 532 shares during the period. Envestnet Asset Management Inc. grew its position in PagerDuty by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 123,247 shares of the company’s stock valued at $2,826,000 after acquiring an additional 542 shares in the last quarter. Arizona State Retirement System grew its position in PagerDuty by 2.8% in the 2nd quarter. Arizona State Retirement System now owns 24,667 shares of the company’s stock valued at $566,000 after acquiring an additional 676 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in PagerDuty by 5.1% during the second quarter. Mackenzie Financial Corp now owns 17,735 shares of the company’s stock worth $407,000 after purchasing an additional 856 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.