JPMorgan Chase & Co. Cuts Pagerduty (NYSE:PD) Price Target to $38.00

Pagerduty (NYSE:PD) had its price target cut by JPMorgan Chase & Co. from $60.00 to $38.00 in a report issued on Friday, The Fly reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the company. SunTrust Banks assumed coverage on Pagerduty in a research report on Wednesday, October 2nd. They issued a hold rating and a $32.00 target price for the company. ValuEngine lowered Pagerduty from a buy rating to a hold rating in a research report on Wednesday, October 2nd. DA Davidson assumed coverage on Pagerduty in a research note on Friday, August 16th. They issued a neutral rating and a $36.00 price target on the stock. Royal Bank of Canada decreased their price objective on Pagerduty to $43.00 and set an outperform rating for the company in a report on Wednesday, December 4th. Finally, Robert W. Baird began coverage on Pagerduty in a research report on Monday, October 14th. They set an outperform rating and a $31.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $29.93.

PD stock opened at $21.81 on Friday. Pagerduty has a 1 year low of $20.53 and a 1 year high of $59.82. The firm has a 50-day moving average of $24.40 and a 200 day moving average of $36.93.

Pagerduty (NYSE:PD) last posted its quarterly earnings data on Thursday, December 5th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The business had revenue of $42.80 million during the quarter, compared to analyst estimates of $42.12 million. The company’s revenue was up 37.2% compared to the same quarter last year. On average, equities analysts anticipate that Pagerduty will post -0.76 earnings per share for the current fiscal year.

In other Pagerduty news, VP Steven Chung sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.11, for a total value of $1,305,500.00. Following the sale, the vice president now directly owns 50,000 shares of the company’s stock, valued at $1,305,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 101,000 shares of company stock worth $2,654,760 in the last 90 days.

A number of hedge funds have recently made changes to their positions in PD. Tower Research Capital LLC TRC purchased a new position in Pagerduty in the third quarter worth about $63,000. Public Employees Retirement System of Ohio bought a new stake in shares of Pagerduty during the second quarter valued at approximately $70,000. NumerixS Investment Technologies Inc bought a new stake in shares of Pagerduty during the second quarter valued at approximately $85,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in Pagerduty in the 2nd quarter worth approximately $113,000. Finally, Scotia Capital Inc. purchased a new position in Pagerduty in the 2nd quarter worth approximately $203,000. 54.00% of the stock is currently owned by institutional investors.

About Pagerduty

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

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