PagerDuty, Inc. (NYSE:PD) Receives Average Recommendation of “Hold” from Analysts

PagerDuty, Inc. (NYSE:PD) has been given an average recommendation of “Hold” by the eleven analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $20.73.

Several research firms have commented on PD. Truist Financial dropped their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group dropped their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Canaccord Genuity Group reduced 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, March 14th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Finally, Bank of America cut 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.

Insider Activity

In other news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold 10,048 shares of company stock valued at $186,699 in the last ninety days. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On PagerDuty

Hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in shares of PagerDuty during the fourth quarter worth approximately $43,000. Quarry LP raised its holdings in PagerDuty by 98.3% during the third quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after buying an additional 1,384 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of PagerDuty in the fourth quarter valued at $58,000. Fred Alger Management LLC grew its holdings in shares of PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after buying an additional 1,594 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PagerDuty during the fourth quarter worth about $130,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Trading Down 2.5 %

Shares of PagerDuty stock opened at $18.31 on Tuesday. The firm’s 50 day moving average is $18.44 and its 200 day moving average is $18.71. The firm has a market capitalization of $1.67 billion, a PE ratio of -22.88 and a beta of 1.12. PagerDuty has a 1 year low of $15.49 and a 1 year high of $23.40. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. 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 for the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that PagerDuty will post -0.27 earnings per share for the current fiscal year.

PagerDuty declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors 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.