PagerDuty, Inc. (NYSE:PD) Receives $20.73 Average Price Target from Analysts

Shares of PagerDuty, Inc. (NYSE:PD) have earned a consensus rating of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.73.

A number of research firms have commented on PD. The Goldman Sachs Group lowered their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Truist Financial decreased their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and cut their target price for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Royal Bank of Canada decreased their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th.

PagerDuty Trading Down 1.7 %

PD stock opened at $19.03 on Tuesday. The business has a fifty day moving average of $18.43 and a 200-day moving average of $18.68. The company has a market cap of $1.73 billion, a P/E ratio of -23.78 and a beta of 1.12. PagerDuty has a twelve month low of $15.49 and a twelve month high of $23.40. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $121.45 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.17 EPS. As a group, equities research analysts expect that PagerDuty will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the sale, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. The trade was a 3.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Tejada sold 1,569 shares of the business’s 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 in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,048 shares of company stock valued at $186,699 over the last quarter. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On PagerDuty

Several large investors have recently made changes to their positions in PD. Intech Investment Management LLC bought a new stake in shares of PagerDuty in the 3rd quarter valued at about $444,000. Algert Global LLC increased its position in PagerDuty by 98.9% during the third quarter. Algert Global LLC now owns 67,856 shares of the company’s stock worth $1,259,000 after buying an additional 33,740 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in PagerDuty in the third quarter valued at approximately $1,645,000. Loomis Sayles & Co. L P lifted its position in shares of PagerDuty by 33.4% in the third quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company’s stock valued at $14,995,000 after buying an additional 202,382 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of PagerDuty during the 3rd quarter worth approximately $929,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.