PagerDuty (NYSE:PD) Hits New 52-Week Low - Should You Sell?

PagerDuty, Inc. (NYSE:PD - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $14.40 and last traded at $14.54, with a volume of 1404598 shares. The stock had previously closed at $14.98.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PD. Truist Financial reduced their price target on shares of 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 decreased their target price on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada lowered their target price on PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Bank of America lowered shares of PagerDuty from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group cut their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.73.

PagerDuty Trading Up 1.4 %

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 business's fifty day moving average is $17.83 and its 200-day moving average is $18.57. The stock has a market capitalization of $1.43 billion, a PE ratio of -19.61 and a beta of 1.06.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. As a group, analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares of the company's stock, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PagerDuty

Several institutional investors and hedge funds have recently made changes to their positions in PD. Venturi Wealth Management LLC acquired a new position in PagerDuty during the 4th quarter worth $43,000. Picton Mahoney Asset Management bought a new stake in PagerDuty in the fourth quarter valued at about $58,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PagerDuty during the fourth quarter valued at approximately $130,000. Vinva Investment Management Ltd bought a new position in PagerDuty during the 4th quarter worth approximately $139,000. Finally, PNC Financial Services Group Inc. raised its position in shares of PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after acquiring an additional 1,965 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

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.