PagerDuty (NYSE:PD) Given New $18.00 Price Target at The Goldman Sachs Group

PagerDuty (NYSE:PD) had its target price reduced by The Goldman Sachs Group from $21.00 to $18.00 in a research report sent to investors on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other analysts also recently weighed in on PD. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Royal Bank of Canada reduced their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday. Canaccord Genuity Group lowered their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America downgraded PagerDuty from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Finally, Truist Financial lowered their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, PagerDuty currently has an average rating of “Hold” and a consensus target price of $20.73.

PagerDuty Trading Up 17.9 %

Shares of NYSE:PD opened at $18.41 on Friday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock’s 50-day moving average is $18.24 and its 200-day moving average is $18.67. The company has a market cap of $1.66 billion, a P/E ratio of -23.01 and a beta of 1.12. PagerDuty has a 52-week low of $15.49 and a 52-week high of $23.85.

PagerDuty (NYSE:PD) last released its earnings results 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 firm had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same quarter last year, the firm posted $0.17 EPS. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts predict that PagerDuty will post -0.27 earnings per share for the current year.

PagerDuty declared that its board has initiated a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the sale, the chief executive officer now owns 868,311 shares in the company, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,048 shares of company stock worth $186,699 over the last three months. 7.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 936,257 shares during the last quarter. Marshall Wace LLP grew its stake in shares of PagerDuty by 989.0% during the fourth quarter. Marshall Wace LLP now owns 721,953 shares of the company’s stock valued at $13,183,000 after purchasing an additional 655,655 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of PagerDuty by 1,222.8% during the fourth 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 last quarter. Two Sigma Advisers LP acquired a new stake in shares of PagerDuty in the fourth quarter valued at approximately $6,734,000. Finally, Raymond James Financial Inc. bought a new position in PagerDuty in the 4th quarter worth approximately $6,574,000. 97.26% of the stock is 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.