PagerDuty (NYSE:PD) Given New $31.00 Price Target at Morgan Stanley

PagerDuty (NYSE:PDGet Rating) had its price target cut by Morgan Stanley from $34.00 to $31.00 in a research report report published on Monday, Stock Target Advisor reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently commented on PD. Robert W. Baird dropped their price objective on shares of PagerDuty from $40.00 to $35.00 and set an outperform rating on the stock in a research report on Friday, September 2nd. Cowen dropped their price objective on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Friday, September 2nd. Craig Hallum dropped their price objective on shares of PagerDuty from $37.00 to $34.00 and set a buy rating on the stock in a research report on Friday, September 2nd. Monness Crespi & Hardt downgraded shares of PagerDuty from a buy rating to a neutral rating in a research report on Friday, August 12th. Finally, Cowen dropped their target price on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Friday, September 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, PagerDuty currently has a consensus rating of Moderate Buy and an average target price of $38.12.

PagerDuty Stock Performance

NYSE:PD opened at $21.31 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.48 and a quick ratio of 2.48. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -14.50 and a beta of 1.07. The company’s 50-day moving average is $23.12 and its two-hundred day moving average is $24.84. PagerDuty has a 1-year low of $19.51 and a 1-year high of $39.05.

PagerDuty (NYSE:PDGet Rating) last announced its earnings results on Thursday, September 1st. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.06). PagerDuty had a negative return on equity of 45.04% and a negative net margin of 38.83%. The business had revenue of $90.30 million for the quarter, compared to analysts’ expectations of $88.22 million. During the same period in the previous year, the company earned ($0.35) earnings per share. PagerDuty’s quarterly revenue was up 33.8% on a year-over-year basis. Analysts forecast that PagerDuty will post -1.3 EPS for the current year.

Insider Buying and Selling at PagerDuty

In other news, CRO Dave Justice sold 1,362 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $23.44, for a total transaction of $31,925.28. Following the transaction, the executive now directly owns 427,832 shares of the company’s stock, valued at $10,028,382.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO Dave Justice sold 1,362 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $23.44, for a total transaction of $31,925.28. Following the transaction, the executive now directly owns 427,832 shares of the company’s stock, valued at $10,028,382.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Howard Wilson sold 11,365 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $25.03, for a total transaction of $284,465.95. Following the transaction, the chief financial officer now directly owns 418,408 shares in the company, valued at $10,472,752.24. The disclosure for this sale can be found here. Insiders have sold a total of 35,689 shares of company stock valued at $890,298 over the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of PagerDuty

A number of hedge funds and other institutional investors have recently made changes to their positions in PD. Truist Financial Corp increased its stake in shares of PagerDuty by 44.9% in the first quarter. Truist Financial Corp now owns 8,778 shares of the company’s stock worth $300,000 after buying an additional 2,720 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of PagerDuty in the first quarter worth $377,000. FDx Advisors Inc. increased its stake in shares of PagerDuty by 20.7% in the first quarter. FDx Advisors Inc. now owns 10,690 shares of the company’s stock worth $365,000 after buying an additional 1,834 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of PagerDuty by 11.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 80,279 shares of the company’s stock worth $2,745,000 after buying an additional 8,263 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of PagerDuty by 2.0% in the first quarter. Arizona State Retirement System now owns 18,375 shares of the company’s stock worth $628,000 after buying an additional 365 shares during the last quarter. Institutional investors own 92.58% of the company’s stock.

About PagerDuty

(Get Rating)

PagerDuty, Inc operates a digital operations management platform in the United States, Japan, and internationally. Its digital operations management platform collects data digital signals from virtually any software-enabled system or device, and leverage powerful machine learning to correlate, process, and predict opportunities and issues.

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