PagerDuty, Inc. (NYSE:PD) Receives Consensus Rating of "Hold" from Brokerages

PagerDuty, Inc. (NYSE:PD - Get Free Report) has been given an average recommendation of "Hold" by the eleven research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $20.73.

Several equities analysts have recently commented on PD shares. The Goldman Sachs Group lowered their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Bank of America cut shares of PagerDuty from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Royal Bank of Canada cut their price objective on PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $21.00 target price on shares of PagerDuty in a report on Wednesday, December 11th. Finally, Truist Financial dropped their price target on PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, March 14th.

PagerDuty Price Performance

PD stock traded down $0.25 during trading on Tuesday, reaching $18.78. The company's stock had a trading volume of 1,148,614 shares, compared to its average volume of 1,066,521. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The company's fifty day moving average is $18.43 and its 200-day moving average is $18.68. The company has a market capitalization of $1.71 billion, a P/E ratio of -23.47 and a beta of 1.12. PagerDuty has a 1 year low of $15.49 and a 1 year high of $23.40.

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PagerDuty (NYSE:PD - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $121.45 million during the quarter, compared to analysts' expectations of $119.53 million. During the same quarter last year, the business posted $0.17 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, research analysts expect that PagerDuty will post -0.27 earnings per share for the current fiscal year.

PagerDuty declared that its Board of Directors has approved a share buyback program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Tejada sold 1,569 shares of the company'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 transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at approximately $17,366,220. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,048 shares of company stock valued at $186,699. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PagerDuty

A number of large investors have recently bought and sold shares of PD. Venturi Wealth Management LLC bought a new stake in shares of PagerDuty during the fourth quarter worth $43,000. Quarry LP increased its stake in PagerDuty by 98.3% in the 3rd quarter. Quarry LP now owns 2,792 shares of the company's stock worth $52,000 after buying an additional 1,384 shares during the period. Picton Mahoney Asset Management purchased a new position in PagerDuty in the 4th quarter worth about $58,000. Fred Alger Management LLC lifted its holdings in PagerDuty by 63.7% during the 3rd quarter. Fred Alger Management LLC now owns 4,097 shares of the company's stock valued at $76,000 after buying an additional 1,594 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in PagerDuty in the 4th quarter valued at about $130,000. Hedge funds and other institutional investors own 97.26% of the company's stock.

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.