Brokerages Set PagerDuty, Inc. (NYSE:PD) PT at $20.73

Shares of PagerDuty, Inc. (NYSE:PD) have received an average recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat.com reports. Two 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 1-year target price among analysts that have issued a report on the stock in the last year is $20.73.

A number of research firms recently issued reports on PD. Canaccord Genuity Group lowered their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Truist Financial dropped their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Bank of America downgraded PagerDuty from a “buy” rating to an “underperform” rating and cut their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Royal Bank of Canada lowered their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Finally, The Goldman Sachs Group cut their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, March 14th.

PagerDuty Trading Down 2.5 %

NYSE:PD opened at $18.31 on Tuesday. The company has a market cap of $1.67 billion, a P/E ratio of -22.88 and a beta of 1.12. PagerDuty has a twelve month low of $15.49 and a twelve month high of $23.40. The business has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $18.71. 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 earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, analysts expect that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has approved a share buyback plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,048 shares of company stock valued at $186,699 in the last three months. 7.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PagerDuty

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Venturi Wealth Management LLC acquired a new position in PagerDuty in the fourth quarter valued at about $43,000. Quarry LP increased its holdings in PagerDuty by 98.3% in the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after buying an additional 1,384 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of PagerDuty in the 4th quarter valued at approximately $58,000. Fred Alger Management LLC lifted its holdings in shares of PagerDuty by 63.7% during the 3rd quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock worth $76,000 after acquiring an additional 1,594 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PagerDuty during the 4th quarter worth approximately $130,000. 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.