PagerDuty (NYSE:PD) Coverage Initiated at Scotiabank

Scotiabank initiated coverage on shares of PagerDuty (NYSE:PD) in a research note issued to investors on Friday, Marketbeat reports. The brokerage issued a sector perform rating and a $23.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of PagerDuty in a report on Thursday. They issued a neutral rating and a $24.00 price target on the stock. Robert W. Baird cut their price target on shares of PagerDuty from $25.00 to $22.00 and set a neutral rating on the stock in a report on Friday, March 15th. Craig Hallum raised shares of PagerDuty from a hold rating to a buy rating and raised their target price for the stock from $21.00 to $30.00 in a research report on Wednesday, June 12th. Truist Financial raised shares of PagerDuty from a hold rating to a buy rating and raised their target price for the stock from $25.00 to $30.00 in a research report on Monday, March 18th. Finally, Canaccord Genuity Group dropped their target price on shares of PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a research report on Friday, May 31st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $26.90.

PagerDuty Stock Performance

PD stock opened at $22.93 on Friday. PagerDuty has a 52 week low of $17.92 and a 52 week high of $26.70. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 2.58. The firm’s fifty day moving average is $20.50 and its 200 day moving average is $22.40.

PagerDuty (NYSE:PD) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $111.17 million for the quarter, compared to analyst estimates of $111.74 million. PagerDuty had a negative net margin of 21.34% and a negative return on equity of 28.38%. On average, sell-side analysts forecast that PagerDuty will post -0.45 EPS for the current fiscal year.

Insider Activity at PagerDuty

In related news, CAO Mitra Rezvan sold 2,215 shares of PagerDuty stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $21.62, for a total transaction of $47,888.30. Following the completion of the transaction, the chief accounting officer now directly owns 119,452 shares of the company’s stock, valued at approximately $2,582,552.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other PagerDuty news, CAO Mitra Rezvan sold 2,215 shares of PagerDuty stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $21.62, for a total value of $47,888.30. Following the completion of the transaction, the chief accounting officer now directly owns 119,452 shares of the company’s stock, valued at $2,582,552.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shelley Webb sold 6,859 shares of PagerDuty stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the transaction, the insider now directly owns 253,439 shares of the company’s stock, valued at $5,674,499.21. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. ARK Investment Management LLC raised its holdings in PagerDuty by 8.1% in the fourth quarter. ARK Investment Management LLC now owns 11,413,423 shares of the company’s stock worth $264,221,000 after buying an additional 858,838 shares during the last quarter. Vanguard Group Inc. raised its holdings in PagerDuty by 5.8% in the third quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock worth $220,465,000 after buying an additional 536,763 shares during the last quarter. Janus Henderson Group PLC raised its holdings in PagerDuty by 1.9% in the first quarter. Janus Henderson Group PLC now owns 3,450,388 shares of the company’s stock worth $78,254,000 after buying an additional 64,359 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of PagerDuty by 65.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock worth $52,911,000 after acquiring an additional 904,136 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of PagerDuty by 50.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock worth $50,011,000 after acquiring an additional 728,152 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.