PagerDuty (NYSE:PD) Issues Earnings Results, Beats Estimates By $0.06 EPS

PagerDuty (NYSE:PD) announced its earnings results on Thursday. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. 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 during the quarter, compared to analyst estimates of $119.53 million. During the same period in the prior year, the business earned $0.17 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year.

PagerDuty Stock Performance

Shares of PagerDuty stock opened at $18.41 on Friday. PagerDuty has a fifty-two week low of $15.49 and a fifty-two week high of $23.85. 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 firm has a market capitalization of $1.66 billion, a P/E ratio of -23.01 and a beta of 1.12. The company’s 50 day moving average price is $18.24 and its two-hundred day moving average price is $18.69.

Insider Transactions at PagerDuty

In related 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 value of $31,380.00. Following the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shelley Webb sold 7,879 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the sale, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,048 shares of company stock worth $186,699. Company insiders own 7.60% of the company’s stock.

PagerDuty announced that its Board of Directors has authorized 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 buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Truist Financial lowered their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada lowered their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday. Canaccord Genuity Group lowered their target price on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group decreased their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. Two 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’s stock. According to data from MarketBeat.com, PagerDuty currently has an average rating of “Hold” and a consensus target price of $20.73.

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.