PagerDuty (NYSE:PD) Stock Rating Upgraded by TD Cowen

PagerDuty (NYSE:PD) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $22.00 price objective on the stock. TD Cowen’s price target would indicate a potential upside of 39.62% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of PagerDuty from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Canaccord Genuity Group decreased their price target on shares of PagerDuty from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, June 2nd. TD Securities cut their price objective on shares of PagerDuty from $19.00 to $18.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. Truist Financial cut their price objective on shares of PagerDuty from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Finally, Cowen raised shares of PagerDuty from a “hold” rating to a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.75.

PagerDuty Stock Performance

Shares of PD opened at $15.76 on Monday. The stock has a market cap of $1.44 billion, a P/E ratio of -39.39, a PEG ratio of 9.43 and a beta of 0.89. PagerDuty has a 12-month low of $13.69 and a 12-month high of $22.02. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.70. The company has a 50-day moving average of $15.23 and a two-hundred day moving average of $16.63.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. PagerDuty had a negative net margin of 7.75% and a negative return on equity of 8.73%. The company had revenue of $119.81 million during the quarter, compared to the consensus estimate of $118.98 million. During the same period in the previous year, the firm earned $0.17 earnings per share. PagerDuty’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts predict that PagerDuty will post -0.27 EPS for the current fiscal year.

Institutional Trading of PagerDuty

A number of large investors have recently bought and sold shares of PD. Headlands Technologies LLC grew its stake in shares of PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company’s stock valued at $25,000 after buying an additional 1,319 shares in the last quarter. KBC Group NV bought a new position in PagerDuty during the first quarter worth $33,000. Summit Securities Group LLC acquired a new stake in shares of PagerDuty during the first quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PagerDuty during the fourth quarter worth $130,000. Finally, Teacher Retirement System of Texas acquired a new position in PagerDuty in the first quarter valued at about $229,000. 97.26% of the stock is owned by institutional investors.

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.