Morgan Stanley Cuts PagerDuty (NYSE:PD) Price Target to $31.00

PagerDuty (NYSE:PDGet Rating) had its price target cut by Morgan Stanley from $34.00 to $31.00 in a report published on Monday, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Cowen lowered their target price on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating for the company in a report on Friday, September 2nd. Cowen lowered their target price on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating for the company in a report on Friday, September 2nd. Craig Hallum reduced their price target on shares of PagerDuty from $37.00 to $34.00 and set a buy rating for the company in a research report on Friday, September 2nd. Monness Crespi & Hardt downgraded shares of PagerDuty from a buy rating to a neutral rating in a research report on Friday, August 12th. Finally, Robert W. Baird reduced their price target on shares of PagerDuty from $40.00 to $35.00 and set an outperform rating for the company in a research report on Friday, September 2nd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, PagerDuty has an average rating of Moderate Buy and an average target price of $38.12.

PagerDuty Trading Up 4.0 %

Shares of PagerDuty stock opened at $22.00 on Monday. The company has a fifty day simple moving average of $22.97 and a 200-day simple moving average of $24.77. PagerDuty has a 12-month low of $19.51 and a 12-month high of $38.75. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.13. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -14.97 and a beta of 1.07.

PagerDuty (NYSE:PDGet Rating) last issued its earnings results on Thursday, September 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.06). PagerDuty had a negative net margin of 38.83% and a negative return on equity of 45.04%. The company had revenue of $90.30 million during the quarter, compared to analyst estimates of $88.22 million. During the same quarter in the previous year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 33.8% on a year-over-year basis. On average, equities analysts forecast that PagerDuty will post -1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other PagerDuty news, CFO Howard Wilson sold 1,600 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $25.02, for a total transaction of $40,032.00. Following the completion of the transaction, the chief financial officer now owns 429,773 shares in the company, valued at approximately $10,752,920.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PagerDuty news, CFO Howard Wilson sold 1,600 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $25.02, for a total transaction of $40,032.00. Following the completion of the transaction, the chief financial officer now owns 429,773 shares in the company, valued at approximately $10,752,920.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Dave Justice sold 1,362 shares of the company’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $23.55, for a total transaction of $32,075.10. Following the transaction, the executive now directly owns 429,194 shares in the company, valued at $10,107,518.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,689 shares of company stock worth $890,298. 8.70% of the stock is owned by insiders.

Hedge Funds Weigh In On PagerDuty

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Seaport Global Advisors LLC grew its stake in shares of PagerDuty by 80.4% during the 3rd quarter. Seaport Global Advisors LLC now owns 6,462 shares of the company’s stock worth $149,000 after purchasing an additional 2,879 shares during the period. Capital Impact Advisors LLC grew its stake in shares of PagerDuty by 7.3% during the 3rd quarter. Capital Impact Advisors LLC now owns 34,184 shares of the company’s stock worth $771,000 after purchasing an additional 2,326 shares during the period. EVR Research LP acquired a new position in shares of PagerDuty during the 3rd quarter worth $3,922,000. Grandeur Peak Global Advisors LLC grew its stake in shares of PagerDuty by 13.5% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 205,144 shares of the company’s stock worth $4,733,000 after purchasing an additional 24,478 shares during the period. Finally, Balyasny Asset Management LLC grew its stake in shares of PagerDuty by 14.9% during the 3rd quarter. Balyasny Asset Management LLC now owns 42,648 shares of the company’s stock worth $984,000 after purchasing an additional 5,526 shares during the period. 92.58% of the stock is owned by institutional investors and hedge funds.

About PagerDuty

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PagerDuty, Inc operates a digital operations management platform in the United States, Japan, and internationally. Its digital operations management platform collects data digital signals from virtually any software-enabled system or device, and leverage powerful machine learning to correlate, process, and predict opportunities and issues.

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