PagerDuty (NYSE:PD) Shares Gap Up Following Analyst Upgrade

PagerDuty, Inc. (NYSE:PD)’s stock price gapped up before the market opened on Wednesday after Royal Bank of Canada raised their price target on the stock from $22.00 to $24.00. The stock had previously closed at $20.91, but opened at $21.76. Royal Bank of Canada currently has an outperform rating on the stock. PagerDuty shares last traded at $20.88, with a volume of 116,763 shares changing hands.

Other analysts also recently issued reports about the company. Canaccord Genuity Group decreased their target price on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. TD Cowen decreased their price objective on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. The Goldman Sachs Group dropped their target price on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Craig Hallum decreased their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Morgan Stanley dropped their price objective on PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.00.

Insider Buying and Selling at PagerDuty

In other news, insider Shelley Webb sold 6,246 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total transaction of $113,177.52. Following the transaction, the insider now owns 216,572 shares in the company, valued at $3,924,284.64. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mitra Rezvan sold 2,942 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction of $53,132.52. Following the sale, the chief accounting officer now directly owns 108,449 shares in the company, valued at approximately $1,958,588.94. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,396 shares of company stock worth $1,733,561 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On PagerDuty

Institutional investors and hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. grew its position in PagerDuty by 6,298.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 55,410 shares of the company’s stock worth $1,270,000 after purchasing an additional 54,544 shares during the period. Jackson Square Capital LLC acquired a new stake in PagerDuty during the third quarter worth about $665,000. Clearline Capital LP purchased a new position in PagerDuty during the second quarter valued at approximately $1,323,000. Natixis Advisors LLC raised its position in PagerDuty by 172.8% during the second quarter. Natixis Advisors LLC now owns 39,733 shares of the company’s stock valued at $911,000 after acquiring an additional 25,170 shares in the last quarter. Finally, RGM Capital LLC lifted its holdings in PagerDuty by 3.3% in the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock valued at $103,286,000 after acquiring an additional 143,701 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Trading Up 0.5 %

The firm has a market cap of $1.96 billion, a PE ratio of -23.61 and a beta of 1.07. The company has a 50-day simple moving average of $18.75 and a 200 day simple moving average of $19.60. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38.

PagerDuty (NYSE:PD) last posted 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. The firm 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 25.83% and a negative net margin of 18.58%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned ($0.18) EPS. As a group, sell-side analysts forecast that PagerDuty, Inc. will post -0.37 earnings per share for the current fiscal year.

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.