PagerDuty, Inc. (NYSE:PD) Receives Average Recommendation of “Hold” from Analysts

PagerDuty, Inc. (NYSE:PD) has been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $21.91.

Several brokerages recently issued reports on PD. JPMorgan Chase & Co. reduced their price objective on PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday. Canaccord Genuity Group cut their price target on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday. Craig Hallum lowered their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley dropped their target price on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Robert W. Baird lowered their price target on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the transaction, the chief executive officer now directly owns 1,010,861 shares in the company, valued at $20,308,197.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PagerDuty news, CFO Howard Wilson sold 12,108 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total transaction of $248,092.92. Following the transaction, the chief financial officer now owns 594,202 shares of the company’s stock, valued at $12,175,198.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 18,750 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total transaction of $376,687.50. Following the sale, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at $20,308,197.49. The disclosure for this sale can be found here. In the last three months, insiders sold 110,244 shares of company stock valued at $2,316,980. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its holdings in PagerDuty by 1,537.2% in the second quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after buying an additional 1,322 shares during the period. First Horizon Advisors Inc. raised its stake in shares of PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after acquiring an additional 508 shares during the period. Fred Alger Management LLC lifted its holdings in shares of PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock valued at $57,000 after acquiring an additional 1,578 shares in the last quarter. Cambridge Trust Co. purchased a new stake in PagerDuty during the 1st quarter worth $68,000. Finally, Headlands Technologies LLC purchased a new stake in PagerDuty during the 2nd quarter worth $114,000. 97.26% of the stock is owned by institutional investors and hedge funds.

PagerDuty Price Performance

Shares of NYSE PD opened at $18.60 on Friday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. PagerDuty has a one year low of $16.46 and a one year high of $26.70. The firm has a market capitalization of $1.78 billion, a P/E ratio of -18.42 and a beta of 1.05. The company’s fifty day moving average is $20.26 and its two-hundred day moving average is $21.09.

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

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.