PagerDuty, Inc. (NYSE:PD) Receives $20.73 Consensus PT from Brokerages

Shares of PagerDuty, Inc. (NYSE:PD) have been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.73.

Several research firms recently commented on PD. Truist Financial decreased their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada decreased their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. The Goldman Sachs Group reduced their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th.

PagerDuty Stock Performance

Shares of PD stock opened at $19.03 on Tuesday. PagerDuty has a 52 week low of $15.49 and a 52 week high of $23.40. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -23.78 and a beta of 1.12. The company has a 50-day simple moving average of $18.43 and a 200 day simple moving average of $18.68. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97.

PagerDuty (NYSE:PD) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $119.53 million. During the same period last year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that PagerDuty will post -0.27 earnings per share for the current year.

PagerDuty declared that its board has approved a share repurchase program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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. This represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 $3,622,029.18. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,048 shares of company stock worth $186,699 in the last ninety days. 7.60% of the stock is owned by insiders.

Institutional Trading of PagerDuty

Several hedge funds and other institutional investors have recently made changes to their positions in PD. JPMorgan Chase & Co. raised its position in PagerDuty by 285.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock worth $23,444,000 after purchasing an additional 936,257 shares during the last quarter. Marshall Wace LLP boosted its holdings in PagerDuty by 989.0% in the fourth quarter. Marshall Wace LLP now owns 721,953 shares of the company’s stock valued at $13,183,000 after acquiring an additional 655,655 shares during the last quarter. Two Sigma Investments LP increased its position in PagerDuty by 1,222.8% during the 4th quarter. Two Sigma Investments LP now owns 431,252 shares of the company’s stock valued at $7,875,000 after purchasing an additional 398,650 shares during the period. Two Sigma Advisers LP bought a new position in PagerDuty during the 4th quarter worth approximately $6,734,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of PagerDuty during the fourth quarter worth $6,574,000. 97.26% of the stock is currently owned by institutional investors.

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.