Brokerages Set PagerDuty, Inc. (NYSE:PD) PT at $20.55

PagerDuty, Inc. (NYSE:PD) has received an average recommendation of “Hold” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.55.

A number of research firms have recently commented on PD. Royal Bank of Canada reduced their price objective on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Morgan Stanley decreased their price target on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Canaccord Genuity Group lowered their price target 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. Finally, Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and decreased their target price for the company from $23.00 to $18.00 in a research note on Thursday, January 30th.

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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PagerDuty by 1.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company’s stock valued at $930,000 after purchasing an additional 586 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of PagerDuty by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 92,621 shares of the company’s stock valued at $1,691,000 after purchasing an additional 674 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of PagerDuty by 2,235.6% in the 1st quarter. Headlands Technologies LLC now owns 1,378 shares of the company’s stock valued at $25,000 after purchasing an additional 1,319 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of PagerDuty by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after purchasing an additional 1,701 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of PagerDuty during the 1st quarter worth $33,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Trading Up 0.7%

NYSE PD opened at $16.25 on Wednesday. PagerDuty has a 12 month low of $14.30 and a 12 month high of $23.12. The stock has a 50-day simple moving average of $16.53 and a 200 day simple moving average of $18.08. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The company has a market capitalization of $1.48 billion, a PE ratio of -20.31 and a beta of 0.99.

PagerDuty (NYSE:PD) last issued its 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. The firm had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Research analysts forecast that PagerDuty will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has approved a stock buyback program on Thursday, March 13th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.