Morgan Stanley Trims Pagerduty (NYSE:PD) Target Price to $31.00

Pagerduty (NYSE:PD) had its target price trimmed by Morgan Stanley from $34.00 to $31.00 in a research report report published on Friday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Pagerduty from $60.00 to $38.00 and set an overweight rating for the company in a research note on Friday. SunTrust Banks began coverage on shares of Pagerduty in a research report on Wednesday, October 2nd. They set a hold rating and a $32.00 price target on the stock. ValuEngine cut shares of Pagerduty from a buy rating to a hold rating in a report on Wednesday, October 2nd. Robert W. Baird started coverage on shares of Pagerduty in a report on Monday, October 14th. They issued an outperform rating and a $31.00 price objective for the company. Finally, DA Davidson started coverage on shares of Pagerduty in a research note on Friday, August 16th. They set a neutral rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $29.93.

Pagerduty stock opened at $21.81 on Friday. The business’s 50-day moving average price is $24.40 and its 200 day moving average price is $36.93. Pagerduty has a 52 week low of $20.53 and a 52 week high of $59.82.

Pagerduty (NYSE:PD) last announced its quarterly earnings results on Thursday, December 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The business had revenue of $42.80 million during the quarter, compared to the consensus estimate of $42.12 million. Pagerduty’s quarterly revenue was up 37.2% compared to the same quarter last year. Research analysts anticipate that Pagerduty will post -0.76 earnings per share for the current fiscal year.

In related news, VP Steven Chung sold 50,000 shares of Pagerduty stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $26.51, for a total value of $1,325,500.00. In the last quarter, insiders sold 101,000 shares of company stock worth $2,654,760.

A number of hedge funds and other institutional investors have recently bought and sold shares of PD. Tower Research Capital LLC TRC acquired a new position in Pagerduty in the 3rd quarter valued at $63,000. Public Employees Retirement System of Ohio acquired a new stake in Pagerduty during the 2nd quarter worth $70,000. NumerixS Investment Technologies Inc acquired a new stake in Pagerduty during the 2nd quarter worth $85,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of Pagerduty during the second quarter worth $113,000. Finally, Scotia Capital Inc. purchased a new stake in shares of Pagerduty during the second quarter worth $203,000. 54.00% of the stock is 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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