PagerDuty (NYSE:PD) PT Lowered to $20.00 at JPMorgan Chase & Co.

PagerDuty (NYSE:PD - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $21.00 to $20.00 in a research note published on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. Morgan Stanley dropped their price target on PagerDuty from $24.00 to $19.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 4th. Scotiabank decreased their price target on PagerDuty from $23.00 to $18.00 and set a "sector perform" rating for the company in a research report on Wednesday, September 4th. Canaccord Genuity Group cut their price objective on PagerDuty from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Robert W. Baird lowered their price target on PagerDuty from $22.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Finally, Bank of America reduced their price target on shares of PagerDuty from $28.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, PagerDuty presently has a consensus rating of "Hold" and an average price target of $21.82.

PagerDuty Stock Performance

PD traded up $0.04 during trading hours on Friday, hitting $17.96. 416,434 shares of the stock were exchanged, compared to its average volume of 1,151,603. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a 50-day simple moving average of $18.45 and a 200-day simple moving average of $19.86. PagerDuty has a 12 month low of $16.46 and a 12 month high of $26.70. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -17.78 and a beta of 1.06.

PagerDuty (NYSE:PD - Get Free Report) last announced 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 company had revenue of $115.94 million during the quarter, compared to analyst estimates of $116.52 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. Analysts anticipate that PagerDuty will post -0.37 earnings per share for the current year.

Insider Transactions at PagerDuty

In related news, CEO Jennifer Tejada sold 14,512 shares of PagerDuty stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $22.00, for a total value of $319,264.00. Following the sale, the chief executive officer now owns 1,010,861 shares of the company's stock, valued at approximately $22,238,942. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Shelley Webb sold 6,246 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total value of $113,177.52. Following the completion of the transaction, the insider now owns 216,572 shares of the company's stock, valued at $3,924,284.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Tejada sold 14,512 shares of the firm's stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $22.00, for a total transaction of $319,264.00. Following the transaction, the chief executive officer now directly owns 1,010,861 shares of the company's stock, valued at $22,238,942. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,450 shares of company stock valued at $862,262 over the last three months. 7.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PD. Quarry LP increased its holdings in PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company's stock worth $32,000 after acquiring an additional 1,322 shares during the period. First Horizon Advisors Inc. raised its holdings in PagerDuty by 28.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company's stock valued at $53,000 after buying an additional 508 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of PagerDuty by 170.6% during the second quarter. Fred Alger Management LLC now owns 2,503 shares of the company's stock worth $57,000 after purchasing an additional 1,578 shares during the period. Cambridge Trust Co. bought a new stake in shares of PagerDuty in the 1st quarter worth approximately $68,000. Finally, Headlands Technologies LLC purchased a new position in PagerDuty during the 2nd quarter valued at $114,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.