PagerDuty, Inc. (NYSE:PD) Given Consensus Rating of “Hold” by Analysts

PagerDuty, Inc. (NYSE:PD) has been given an average recommendation of “Hold” by the eleven brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.55.

Several analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Truist Financial reduced their price target on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group dropped their price objective on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Royal Bank of Canada reduced their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Finally, Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and cut their price objective for the company from $23.00 to $18.00 in a research report on Thursday, January 30th.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PagerDuty

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake 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 worth $23,444,000 after buying an additional 936,257 shares during the period. Marshall Wace LLP raised its stake in shares of PagerDuty by 989.0% during the fourth quarter. Marshall Wace LLP now owns 721,953 shares of the company’s stock valued at $13,183,000 after acquiring an additional 655,655 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of PagerDuty by 1,222.8% during the fourth quarter. Two Sigma Investments LP now owns 431,252 shares of the company’s stock worth $7,875,000 after purchasing an additional 398,650 shares during the period. Two Sigma Advisers LP bought a new stake in shares of PagerDuty in the fourth quarter worth about $6,734,000. Finally, Raymond James Financial Inc. bought a new position in PagerDuty during the 4th quarter valued at approximately $6,574,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

PagerDuty Stock Performance

Shares of PD stock opened at $14.72 on Friday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -18.40 and a beta of 1.06. PagerDuty has a 52 week low of $14.40 and a 52 week high of $23.12. The firm’s 50-day simple moving average is $17.43 and its two-hundred day simple moving average is $18.45.

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

PagerDuty announced that its Board of Directors has initiated a share buyback plan on Thursday, March 13th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.