The Goldman Sachs Group Issues Pessimistic Forecast for PagerDuty (NYSE:PD) Stock Price

PagerDuty (NYSE:PD) had its price target dropped by equities researchers at The Goldman Sachs Group from $21.00 to $18.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 1.42% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Truist Financial dropped their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada dropped their price objective on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday. Finally, Canaccord Genuity Group dropped their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.73.

PagerDuty Trading Up 17.0 %

PagerDuty stock traded up $2.65 during midday trading on Friday, hitting $18.26. 2,490,283 shares of the stock were exchanged, compared to its average volume of 1,045,989. PagerDuty has a fifty-two week low of $15.49 and a fifty-two week high of $23.85. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -22.84 and a beta of 1.12. The stock’s 50-day simple moving average is $18.24 and its 200 day simple moving average is $18.70. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same period last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that PagerDuty will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,048 shares of company stock worth $186,699 over the last 90 days. 7.60% of the stock is owned by insiders.

Institutional Trading of PagerDuty

Several institutional investors and hedge funds have recently made changes to their positions in the stock. RGM Capital LLC lifted its position in shares of PagerDuty by 1.3% in the third quarter. RGM Capital LLC now owns 4,564,296 shares of the company’s stock valued at $84,668,000 after acquiring an additional 59,902 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of PagerDuty by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company’s stock valued at $55,817,000 after acquiring an additional 61,456 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of PagerDuty by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after acquiring an additional 37,147 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of PagerDuty by 285.8% in the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock valued at $23,444,000 after acquiring an additional 936,257 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of PagerDuty by 2.0% in the fourth quarter. Barclays PLC now owns 918,762 shares of the company’s stock valued at $16,777,000 after acquiring an additional 17,642 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

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.