PagerDuty (NYSE:PD) PT Lowered to $26.00

PagerDuty (NYSE:PD) had its price target cut by Craig Hallum from $30.00 to $26.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on PD. Morgan Stanley lowered their target price on PagerDuty from $24.00 to $19.00 and set an equal weight rating on the stock in a report on Wednesday. Canaccord Genuity Group dropped their target price on shares of PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a report on Friday, May 31st. JPMorgan Chase & Co. began coverage on shares of PagerDuty in a research report on Thursday, June 27th. They set a neutral rating and a $24.00 target price for the company. Bank of America lowered their price target on shares of PagerDuty from $28.00 to $23.00 and set a buy rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on PagerDuty in a research report on Thursday, July 18th. They set a neutral rating and a $24.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $21.91.

PagerDuty Stock Performance

Shares of PD opened at $17.78 on Wednesday. The company has a market capitalization of $1.70 billion, a PE ratio of -17.60 and a beta of 1.05. PagerDuty has a 52-week low of $16.46 and a 52-week high of $26.70. The company has a 50-day simple moving average of $20.08 and a 200-day simple moving average of $21.01. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 2.58.

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

Insiders Place Their Bets

In other news, 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 transaction of $125,989.36. Following the sale, the insider now owns 235,657 shares in the company, valued at $5,179,740.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jennifer Tejada sold 31,250 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were 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 owns 1,023,579 shares of the company’s stock, valued at $21,566,809.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shelley Webb sold 5,732 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $21.98, for a total transaction of $125,989.36. Following the transaction, the insider now directly owns 235,657 shares in the company, valued at approximately $5,179,740.86. The disclosure for this sale can be found here. Insiders have sold a total of 110,244 shares of company stock valued at $2,316,980 in the last quarter. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of PagerDuty

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC boosted its holdings in PagerDuty by 12.5% in the second quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock valued at $243,156,000 after acquiring an additional 1,180,202 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of PagerDuty by 65.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock worth $52,911,000 after purchasing an additional 904,136 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of PagerDuty by 50.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock valued at $50,011,000 after purchasing an additional 728,152 shares in the last quarter. Norges Bank purchased a new stake in shares of PagerDuty during the 4th quarter worth about $15,912,000. Finally, SpiderRock Advisors LLC acquired a new stake in PagerDuty during the 1st quarter worth approximately $11,083,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.