PagerDuty (NYSE:PD) Price Target Cut to $23.00 by Analysts at Bank of America

PagerDuty (NYSE:PD) had its price objective decreased by Bank of America from $28.00 to $23.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on PD. Morgan Stanley lowered their price objective on PagerDuty from $24.00 to $19.00 and set an equal weight rating on the stock in a research report on Wednesday. The Goldman Sachs Group assumed coverage on PagerDuty in a research report on Thursday, July 18th. They set a neutral rating and a $24.00 price objective on the stock. Scotiabank assumed coverage on PagerDuty in a research report on Friday, June 28th. They set a sector perform rating and a $23.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on PagerDuty in a research report on Thursday, June 27th. They set a neutral rating and a $24.00 price objective on the stock. Finally, Craig Hallum raised PagerDuty from a hold rating to a buy rating and lifted their price objective for the company from $21.00 to $30.00 in a research report on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $21.91.

PagerDuty Trading Down 4.5 %

Shares of NYSE:PD opened at $17.78 on Wednesday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -17.60 and a beta of 1.05. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. The stock’s 50-day simple moving average is $20.08 and its two-hundred day simple moving average is $21.01. PagerDuty has a 52-week low of $16.46 and a 52-week high of $26.70.

PagerDuty (NYSE:PD) last announced its earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $115.94 million for the quarter, compared to analysts’ expectations of $116.52 million. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted ($0.18) earnings per share. Analysts expect that PagerDuty will post -0.44 EPS for the current year.

Insiders Place Their Bets

In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of PagerDuty stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total value of $658,437.50. Following the sale, the chief executive officer now owns 1,023,579 shares of the company’s stock, valued at approximately $21,566,809.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of PagerDuty stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total value of $658,437.50. Following the sale, the chief executive officer now owns 1,023,579 shares of the company’s stock, valued at approximately $21,566,809.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Howard Wilson sold 12,108 shares of PagerDuty stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $20.49, for a total value of $248,092.92. Following the completion of the sale, the chief financial officer now directly owns 594,202 shares in the company, valued at approximately $12,175,198.98. The disclosure for this sale can be found here. Insiders have sold a total of 110,244 shares of company stock valued at $2,316,980 in the last quarter. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PagerDuty

Several large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its position in shares of PagerDuty by 214.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 57,558 shares of the company’s stock valued at $1,320,000 after purchasing an additional 39,258 shares during the last quarter. Quarry LP increased its position in shares of PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after purchasing an additional 1,322 shares during the last quarter. Capital Impact Advisors LLC increased its position in shares of PagerDuty by 33.6% during the 2nd quarter. Capital Impact Advisors LLC now owns 33,882 shares of the company’s stock valued at $777,000 after purchasing an additional 8,518 shares during the last quarter. Clearline Capital LP bought a new position in shares of PagerDuty during the 2nd quarter valued at approximately $1,323,000. Finally, Algert Global LLC increased its position in shares of PagerDuty by 236.1% during the 2nd quarter. Algert Global LLC now owns 34,116 shares of the company’s stock valued at $782,000 after purchasing an additional 23,966 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

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.