PagerDuty (NYSE:PD) Hits New 1-Year Low on Analyst Downgrade

PagerDuty, Inc. (NYSE:PD) shares reached a new 52-week low during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $24.00 to $21.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. PagerDuty traded as low as $16.21 and last traded at $16.21, with a volume of 59932 shares trading hands. The stock had previously closed at $18.29.

Several other research firms have also commented on PD. TD Cowen lowered their price target on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday. Canaccord Genuity Group decreased their target price on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday. Scotiabank cut their price target on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Craig Hallum reduced their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PagerDuty has a consensus rating of “Hold” and a consensus target price of $21.91.

Insider Activity

In related news, CEO Jennifer Tejada sold 31,250 shares of the stock in a transaction 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 sale, the chief executive officer now owns 1,023,579 shares in the company, valued at approximately $21,566,809.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jennifer Tejada sold 31,250 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 1,023,579 shares in the company, valued at $21,566,809.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 235,657 shares in the company, valued at approximately $5,179,740.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,244 shares of company stock valued at $2,316,980. 7.60% of the stock is owned by insiders.

Institutional Trading of PagerDuty

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

PagerDuty Stock Performance

The company has a market capitalization of $1.73 billion, a P/E ratio of -17.90 and a beta of 1.05. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. The business has a 50 day moving average of $20.35 and a 200-day moving average of $21.11.

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

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.