Morgan Stanley Trims PagerDuty (NYSE:PD) Target Price to $19.00

PagerDuty (NYSE:PD) had its target price reduced by Morgan Stanley from $24.00 to $19.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently commented on the company. Canaccord Genuity Group reduced their price objective on PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a report on Friday, May 31st. Scotiabank initiated coverage on PagerDuty in a report on Friday, June 28th. They issued a sector perform rating and a $23.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on PagerDuty in a report on Thursday, June 27th. They issued a neutral rating and a $24.00 price objective for the company. The Goldman Sachs Group assumed coverage on PagerDuty in a research note on Thursday, July 18th. They set a neutral rating and a $24.00 price target for the company. Finally, Craig Hallum upgraded PagerDuty from a hold rating to a buy rating and boosted their price target for the company from $21.00 to $30.00 in a research note on Wednesday, June 12th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PagerDuty has a consensus rating of Hold and an average price target of $21.91.

PagerDuty Price Performance

PD opened at $18.08 on Wednesday. The stock has a 50-day moving average price of $20.35 and a 200-day moving average price of $21.11. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.59 and a quick ratio of 2.59. The firm has a market cap of $1.73 billion, a PE ratio of -17.90 and a beta of 1.05. PagerDuty has a 1 year low of $16.46 and a 1 year high of $26.70.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The company had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. During the same period last year, the company earned ($0.18) EPS. PagerDuty’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that PagerDuty will post -0.44 earnings per share for the current fiscal year.

Insider Activity at PagerDuty

In related news, CEO Jennifer Tejada sold 31,250 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total transaction of $658,437.50. Following the completion of the transaction, the chief executive officer now directly owns 1,023,579 shares in the company, valued at approximately $21,566,809.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Shelley Webb sold 5,732 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $21.98, for a total value of $125,989.36. Following the transaction, the insider now directly owns 235,657 shares of the company’s stock, valued at approximately $5,179,740.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Tejada sold 31,250 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total value of $658,437.50. Following the completion of the transaction, the chief executive officer now directly owns 1,023,579 shares in the company, valued at $21,566,809.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of PagerDuty during the 4th quarter worth approximately $4,630,000. Massachusetts Financial Services Co. MA raised its holdings in shares of PagerDuty by 50.8% during the 4th 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 in the last quarter. Natixis Advisors L.P. raised its holdings in shares of PagerDuty by 13.9% during the 4th quarter. Natixis Advisors L.P. now owns 13,541 shares of the company’s stock worth $313,000 after acquiring an additional 1,650 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. raised its holdings in shares of PagerDuty by 13.9% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 655,000 shares of the company’s stock worth $15,163,000 after acquiring an additional 80,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of PagerDuty by 65.4% during the 4th 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 in the last quarter. 97.26% of the stock is 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.