Analysts Set PagerDuty, Inc. (NYSE:PD) Price Target at $22.09

Shares of PagerDuty, Inc. (NYSE:PD - Get Free Report) have been given an average recommendation of "Hold" by the eleven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.09.

A number of equities analysts have recently commented on PD shares. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Royal Bank of Canada increased their target price on PagerDuty from $22.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th.

Insider Buying and Selling

In other news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the sale, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Wilson sold 21,066 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.02, for a total transaction of $421,741.32. Following the transaction, the chief financial officer now directly owns 545,742 shares in the company, valued at approximately $10,925,754.84. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,587 shares of company stock worth $1,962,070 in the last ninety days. 7.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PagerDuty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PD. Quarry LP boosted its stake in PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company's stock valued at $32,000 after purchasing an additional 1,322 shares during the last quarter. Fred Alger Management LLC increased its holdings in PagerDuty by 170.6% in the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company's stock worth $57,000 after buying an additional 1,578 shares in the last quarter. Headlands Technologies LLC purchased a new position in PagerDuty in the 2nd quarter worth about $114,000. Point72 DIFC Ltd purchased a new stake in shares of PagerDuty during the 3rd quarter valued at about $163,000. Finally, nVerses Capital LLC bought a new stake in shares of PagerDuty in the third quarter worth approximately $176,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Price Performance

PagerDuty stock traded up $0.18 during midday trading on Thursday, hitting $17.70. 806,275 shares of the company's stock were exchanged, compared to its average volume of 1,051,395. The company has a market cap of $1.60 billion, a P/E ratio of -22.12 and a beta of 1.13. 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 stock has a 50-day moving average price of $19.46 and a two-hundred day moving average price of $19.41. PagerDuty has a 52-week low of $16.46 and a 52-week high of $26.70.

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.