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

PagerDuty (NYSE:PD) had its target price boosted by Royal Bank of Canada from $22.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 14.23% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Craig Hallum cut their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Canaccord Genuity Group reduced their price objective on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Robert W. Baird decreased their price objective on PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. TD Cowen cut their target price on PagerDuty from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group decreased their price target on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PagerDuty presently has a consensus rating of “Hold” and a consensus price target of $22.00.

PagerDuty Stock Up 0.5 %

Shares of PagerDuty stock opened at $21.01 on Wednesday. The stock’s 50-day moving average is $18.81 and its 200 day moving average is $19.61. PagerDuty has a one year low of $16.46 and a one year high of $26.70. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -23.61 and a beta of 1.07. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm had revenue of $115.94 million for the quarter, compared to analysts’ expectations of $116.52 million. During the same period in the prior year, the business earned ($0.18) EPS. 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 Activity

In related news, insider Shelley Webb sold 6,246 shares of PagerDuty stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total transaction of $113,177.52. Following the sale, the insider now directly owns 216,572 shares in the company, valued at approximately $3,924,284.64. This trade represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mitra Rezvan sold 2,942 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total value of $53,132.52. Following 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 represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,396 shares of company stock worth $1,733,561 over the last quarter. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

Institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its holdings in PagerDuty by 6,298.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 55,410 shares of the company’s stock valued at $1,270,000 after purchasing an additional 54,544 shares during the last quarter. Jackson Square Capital LLC bought a new stake in shares of PagerDuty in the third quarter valued at approximately $665,000. Clearline Capital LP purchased a new stake in shares of PagerDuty during the 2nd quarter valued at approximately $1,323,000. Natixis Advisors LLC boosted its holdings in PagerDuty by 172.8% in the 2nd quarter. Natixis Advisors LLC now owns 39,733 shares of the company’s stock worth $911,000 after buying an additional 25,170 shares during the period. Finally, RGM Capital LLC boosted its holdings in PagerDuty by 3.3% in the 2nd quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock worth $103,286,000 after buying an additional 143,701 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.