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

PagerDuty, Inc. (NYSE:PD) has earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.82.

Several equities analysts have issued reports on PD shares. Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America decreased their price objective on shares of PagerDuty from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Morgan Stanley decreased their price objective on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. TD Cowen decreased their price objective on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reduced their target price on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th.

PagerDuty Stock Performance

Shares of PD stock opened at $17.96 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38. The firm has a fifty day moving average price of $18.43 and a 200 day moving average price of $19.83. The company has a market cap of $1.72 billion, a P/E ratio of -17.78 and a beta of 1.06. PagerDuty has a 12 month low of $16.46 and a 12 month high of $26.70.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The company had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. PagerDuty’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that PagerDuty will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Shelley Webb sold 6,246 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total transaction of $113,177.52. Following the completion of the transaction, the insider now directly owns 216,572 shares of the company’s stock, valued at $3,924,284.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other PagerDuty news, insider Shelley Webb sold 6,246 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total value of $113,177.52. Following the completion of the transaction, the insider now directly owns 216,572 shares of the company’s stock, valued at approximately $3,924,284.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Tejada sold 14,512 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $22.00, for a total transaction of $319,264.00. Following the completion of the transaction, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at approximately $22,238,942. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,450 shares of company stock valued at $862,262 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. grew its position in shares of PagerDuty by 6,298.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 55,410 shares of the company’s stock valued at $1,270,000 after purchasing an additional 54,544 shares during the last quarter. Clearline Capital LP acquired a new stake in shares of PagerDuty in the second quarter valued at approximately $1,323,000. Natixis Advisors LLC grew its position in shares of PagerDuty by 172.8% in the second quarter. Natixis Advisors LLC now owns 39,733 shares of the company’s stock valued at $911,000 after purchasing an additional 25,170 shares during the last quarter. RGM Capital LLC grew its position in shares of PagerDuty by 3.3% in the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock valued at $103,286,000 after purchasing an additional 143,701 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in PagerDuty by 214.5% during the second quarter. Point72 Asset Management L.P. now owns 57,558 shares of the company’s stock worth $1,320,000 after acquiring an additional 39,258 shares during the last quarter. 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.