Truist Financial Issues Pessimistic Forecast for PagerDuty (NYSE:PD) Stock Price

PagerDuty (NYSE:PD) had its price target reduced by stock analysts at Truist Financial from $30.00 to $26.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 41.22% from the stock’s current price.

PD has been the topic of a number of other research reports. Royal Bank of Canada cut their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday. Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and cut their target price for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, PagerDuty currently has a consensus rating of “Hold” and a consensus price target of $20.73.

PagerDuty Trading Up 17.9 %

Shares of PD stock opened at $18.41 on Friday. PagerDuty has a 1 year low of $15.49 and a 1 year high of $23.85. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The stock’s 50 day simple moving average is $18.24 and its two-hundred day simple moving average is $18.68. The company has a market cap of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. During the same period in the prior year, the business posted $0.17 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts predict that PagerDuty will post -0.27 earnings per share for the current year.

PagerDuty declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the sale, the insider now owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,048 shares of company stock valued at $186,699 over the last quarter. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of PagerDuty

Several hedge funds and other institutional investors have recently bought and sold shares of PD. Quest Partners LLC bought a new stake in PagerDuty during the 3rd quarter valued at $845,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of PagerDuty by 4.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 489,905 shares of the company’s stock valued at $9,088,000 after purchasing an additional 21,126 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of PagerDuty during the 3rd quarter valued at $444,000. Algert Global LLC lifted its holdings in shares of PagerDuty by 98.9% during the 3rd quarter. Algert Global LLC now owns 67,856 shares of the company’s stock valued at $1,259,000 after purchasing an additional 33,740 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of PagerDuty during the 3rd quarter valued at $1,645,000. 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.