Pagerduty (NYSE:PD) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Pagerduty (NYSE:PD) from a buy rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Pagerduty Inc. provides digital operations management solutions. The Company offers software as a service based platform PagerDuty, which helps developers, DevOps, information technology operations and business to prevent and resolve business impacting incidents. Pagerduty Inc. is based in San Francisco, United States. “

PD has been the topic of a number of other research reports. ValuEngine lowered shares of Pagerduty from a buy rating to a hold rating in a report on Wednesday, October 2nd. Royal Bank of Canada set a $49.00 target price on shares of Pagerduty and gave the company a buy rating in a research note on Tuesday, September 24th. Robert W. Baird initiated coverage on shares of Pagerduty in a research note on Monday, October 14th. They issued an outperform rating and a $31.00 target price on the stock. SunTrust Banks initiated coverage on shares of Pagerduty in a research note on Wednesday, October 2nd. They issued a hold rating and a $32.00 target price on the stock. Finally, TD Securities raised shares of Pagerduty to a top pick rating and cut their target price for the company from $5.00 to $4.50 in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Pagerduty presently has an average rating of Buy and an average price target of $34.48.

Shares of PD traded down $0.03 during mid-day trading on Thursday, reaching $22.34. The company had a trading volume of 618,087 shares, compared to its average volume of 738,892. The firm has a fifty day simple moving average of $25.97 and a 200-day simple moving average of $39.96. Pagerduty has a fifty-two week low of $21.72 and a fifty-two week high of $59.82.

Pagerduty (NYSE:PD) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.12. The company had revenue of $40.40 million during the quarter, compared to analyst estimates of $39.12 million. The company’s revenue was up 45.8% on a year-over-year basis. As a group, equities research analysts anticipate that Pagerduty will post -0.76 earnings per share for the current year.

In other news, VP Steven Chung sold 50,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $26.51, for a total value of $1,325,500.00.

A number of institutional investors have recently added to or reduced their stakes in PD. Tower Research Capital LLC TRC purchased a new stake in Pagerduty during the 3rd quarter worth $63,000. Public Employees Retirement System of Ohio purchased a new stake in Pagerduty during the 2nd quarter worth $70,000. NumerixS Investment Technologies Inc purchased a new stake in Pagerduty during the 2nd quarter worth $85,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Pagerduty during the 2nd quarter worth $113,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Pagerduty during the 2nd quarter worth $157,000. 49.33% of the stock is currently owned by hedge funds and other 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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