PagerDuty (NYSE:PD) Price Target Lowered to $23.00 at Bank of America

PagerDuty (NYSE:PD) had its target price lowered by Bank of America from $28.00 to $23.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on PD. Scotiabank began coverage on shares of PagerDuty in a report on Friday, June 28th. They issued a sector perform rating and a $23.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of PagerDuty in a research report on Thursday, June 27th. They set a neutral rating and a $24.00 target price on the stock. Canaccord Genuity Group cut their price target on PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a report on Friday, May 31st. The Goldman Sachs Group began coverage on PagerDuty in a research note on Thursday, July 18th. They set a neutral rating and a $24.00 price target on the stock. Finally, Craig Hallum upgraded PagerDuty from a hold rating to a buy rating and upped their target price for the company from $21.00 to $30.00 in a research note on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $21.91.

PagerDuty Trading Down 1.1 %

Shares of PD opened at $18.08 on Wednesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.59 and a quick ratio of 2.59. PagerDuty has a 1-year low of $16.46 and a 1-year high of $26.70. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -17.90 and a beta of 1.05. The firm has a 50 day simple moving average of $20.35 and a 200-day simple moving average of $21.11.

PagerDuty (NYSE:PD) last announced its earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The firm had revenue of $115.94 million for the quarter, compared to analysts’ expectations of $116.52 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. PagerDuty’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that PagerDuty will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Howard Wilson sold 12,108 shares of PagerDuty stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $20.49, for a total value of $248,092.92. Following the transaction, the chief financial officer now directly owns 594,202 shares of the company’s stock, valued at approximately $12,175,198.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $20.09, for a total transaction of $376,687.50. Following the completion of the sale, the chief executive officer now directly owns 1,010,861 shares of the company’s stock, valued at approximately $20,308,197.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Howard Wilson sold 12,108 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total value of $248,092.92. Following the completion of the transaction, the chief financial officer now directly owns 594,202 shares in the company, valued at $12,175,198.98. The disclosure for this sale can be found here. Insiders sold 110,244 shares of company stock worth $2,316,980 over the last three months. 7.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PagerDuty

Hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC boosted its holdings in PagerDuty by 12.5% in the 2nd quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock worth $243,156,000 after acquiring an additional 1,180,202 shares during the period. Goldman Sachs Group Inc. grew its holdings in PagerDuty by 65.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock valued at $52,911,000 after purchasing an additional 904,136 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in PagerDuty by 50.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock worth $50,011,000 after buying an additional 728,152 shares during the period. Norges Bank acquired a new position in PagerDuty in the 4th quarter worth $15,912,000. Finally, SpiderRock Advisors LLC acquired a new position in PagerDuty in the 1st quarter worth $11,083,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

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.