Pagerduty Inc’s (PD) Quiet Period Set To End on May 21st

Pagerduty’s (NYSE:PD) quiet period is set to end on Tuesday, May 21st. Pagerduty had issued 9,070,000 shares in its initial public offering on April 11th. The total size of the offering was $217,680,000 based on an initial share price of $24.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

A number of brokerages recently weighed in on PD. Piper Jaffray Companies began coverage on shares of Pagerduty in a research note on Monday, May 6th. They set an “overweight” rating and a $52.00 target price for the company. KeyCorp began coverage on shares of Pagerduty in a research note on Monday, May 6th. They set a “sector weight” rating for the company. Morgan Stanley began coverage on shares of Pagerduty in a research note on Monday, May 6th. They set an “equal weight” rating and a $47.00 target price for the company. BTIG Research began coverage on shares of Pagerduty in a research note on Monday, May 6th. They set a “neutral” rating for the company. Finally, Raymond James reissued a “buy” rating and set a $5.00 target price on shares of Pagerduty in a research note on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $40.33.

Shares of NYSE PD opened at $54.69 on Friday. Pagerduty has a twelve month low of $36.00 and a twelve month high of $58.96.



In related news, insider Dan Alexandru Solomon sold 342,000 shares of Pagerduty stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.32, for a total transaction of $7,633,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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Pagerduty Company Profile

PagerDuty, Inc operates a digital operations management platform. It provides incident management solution that integrates with information technology Ops and DevOps monitoring stacks to improve operational reliability and agility. The company was founded by Andrew Miklas, Baskar Puvanathasan, and Dan Alexandru Solomon in 2009 and is headquartered in San Francisco, CA.

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