PagerDuty, Inc. (NYSE:PD) Receives Average Rating of “Hold” from Brokerages

PagerDuty, Inc. (NYSE:PD) has received an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.73.

PD has been the subject of several research reports. Royal Bank of Canada reduced their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. The Goldman Sachs Group dropped their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Truist Financial reduced their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, March 14th.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shelley Webb sold 7,879 shares of the firm’s 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 completion of the sale, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. The trade was a 3.81 % 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 worth $186,699 over the last 90 days. Insiders own 7.60% of the company’s stock.

Institutional Trading of PagerDuty

Several hedge funds and other institutional investors have recently bought and sold shares of PD. Venturi Wealth Management LLC acquired a new position in PagerDuty in the 4th quarter valued at approximately $43,000. Quarry LP increased its holdings in PagerDuty by 98.3% in the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after buying an additional 1,384 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of PagerDuty in the 4th quarter valued at $58,000. Fred Alger Management LLC lifted its holdings in shares of PagerDuty by 63.7% during the 3rd quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock worth $76,000 after acquiring an additional 1,594 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in PagerDuty in the fourth quarter valued at about $130,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Trading Up 2.6 %

Shares of PD stock opened at $19.39 on Tuesday. The stock has a 50-day simple moving average of $18.37 and a 200 day simple moving average of $18.66. The stock has a market capitalization of $1.77 billion, a P/E ratio of -24.24 and a beta of 1.12. PagerDuty has a fifty-two week low of $15.49 and a fifty-two week high of $23.40. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

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

PagerDuty announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

About PagerDuty

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.