PagerDuty, Inc. (NYSE:PD) Receives $20.55 Consensus Target Price from Brokerages

Shares of PagerDuty, Inc. (NYSE:PD) have been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $20.55.

PD has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of PagerDuty from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their target price on PagerDuty from $21.00 to $18.00 and set a “neutral” 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 reduced their price target for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Royal Bank of Canada decreased their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Finally, Truist Financial reduced their target price on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 14th.

PagerDuty Stock Performance

PagerDuty stock opened at $15.10 on Friday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -18.87 and a beta of 1.06. PagerDuty has a 12 month low of $14.30 and a 12 month high of $23.12. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The stock’s 50-day moving average is $17.16 and its 200-day moving average is $18.39.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, beating 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 firm had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same quarter last year, the firm posted $0.17 earnings per share. PagerDuty’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts anticipate that PagerDuty will post -0.27 earnings per share for the current year.

PagerDuty announced that its Board of Directors has initiated a share repurchase 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 generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were 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 in the company, valued at $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PD. Venturi Wealth Management LLC acquired a new stake in PagerDuty during the fourth quarter worth about $43,000. Picton Mahoney Asset Management bought a new position in shares of PagerDuty during the fourth quarter valued at approximately $58,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PagerDuty during the 4th quarter worth approximately $130,000. Vinva Investment Management Ltd bought a new stake in shares of PagerDuty in the 4th quarter worth approximately $139,000. Finally, PNC Financial Services Group Inc. boosted its position in PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock valued at $184,000 after purchasing an additional 1,965 shares during the period. 97.26% of the stock is currently owned by institutional investors.

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.