PagerDuty (NYSE:PD) Releases Q2 2023 Earnings Guidance

PagerDuty (NYSE:PDGet Rating) issued an update on its second quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -$0.09–$0.08 for the period, compared to the consensus estimate of -$0.08. The company issued revenue guidance of $87.00 million-$89.00 million, compared to the consensus revenue estimate of $87.20 million. PagerDuty also updated its FY 2023 guidance to -$0.21–$0.17 EPS.

Shares of NYSE PD traded up $1.66 during midday trading on Thursday, reaching $27.16. 97,486 shares of the company were exchanged, compared to its average volume of 1,287,788. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 1.10. PagerDuty has a 1 year low of $21.72 and a 1 year high of $50.33. The stock has a fifty day simple moving average of $26.49 and a 200 day simple moving average of $30.66. The stock has a market cap of $2.39 billion, a P/E ratio of -19.51 and a beta of 1.22.

PagerDuty (NYSE:PDGet Rating) last released its quarterly earnings results on Thursday, June 2nd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The firm had revenue of $85.37 million for the quarter, compared to analyst estimates of $82.67 million. PagerDuty had a negative return on equity of 41.92% and a negative net margin of 38.83%. The business’s revenue was up 34.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) earnings per share. As a group, analysts forecast that PagerDuty will post -1.25 earnings per share for the current year.

A number of brokerages recently commented on PD. Craig Hallum reduced their price objective on shares of PagerDuty from $45.00 to $37.00 and set a buy rating for the company in a research report on Friday, June 3rd. Monness Crespi & Hardt reduced their price objective on shares of PagerDuty to $35.00 in a research report on Thursday, May 26th. Cowen reduced their price target on shares of PagerDuty to $40.00 in a research report on Friday, May 27th. Robert W. Baird lowered their price target on PagerDuty from $47.00 to $40.00 and set an outperform rating on the stock in a report on Friday, June 3rd. Finally, Royal Bank of Canada dropped their price objective on PagerDuty from $46.00 to $41.00 in a research note on Tuesday, May 31st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $47.38.

In related news, CRO Dave Justice sold 1,737 shares of the stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $34.97, for a total transaction of $60,742.89. Following the sale, the executive now owns 298,427 shares of the company’s stock, valued at $10,435,992.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Tejada sold 68,182 shares of the firm’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $31.17, for a total value of $2,125,232.94. Following the completion of the sale, the chief executive officer now directly owns 897,974 shares in the company, valued at $27,989,849.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,992 shares of company stock worth $4,384,807. Corporate insiders own 8.70% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in PagerDuty by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 6,783,833 shares of the company’s stock worth $231,939,000 after buying an additional 80,474 shares during the last quarter. Clearbridge Investments LLC increased its position in PagerDuty by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,557,845 shares of the company’s stock worth $121,643,000 after purchasing an additional 24,545 shares in the last quarter. State Street Corp raised its holdings in PagerDuty by 3.0% in the first quarter. State Street Corp now owns 1,725,335 shares of the company’s stock valued at $58,989,000 after buying an additional 50,075 shares during the period. Goldman Sachs Group Inc. lifted its position in PagerDuty by 47.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,099,664 shares of the company’s stock valued at $37,598,000 after buying an additional 353,682 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in PagerDuty by 3.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 571,899 shares of the company’s stock worth $19,554,000 after buying an additional 21,120 shares during the period. 89.33% of the stock is currently owned by hedge funds and other institutional investors.

PagerDuty Company Profile (Get Rating)

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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