PagerDuty (NYSE:PD) Given New $26.00 Price Target at Truist Financial

PagerDuty (NYSE:PD) had its price objective cut by Truist Financial from $30.00 to $26.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

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

PagerDuty Stock Performance

Shares of NYSE PD opened at $18.41 on Friday. The stock has a market cap of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. PagerDuty has a 1 year low of $15.49 and a 1 year high of $23.85. The firm has a fifty day moving average price of $18.24 and a 200-day moving average price of $18.67. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $119.53 million. During the same quarter in the prior year, the business posted $0.17 EPS. PagerDuty’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts anticipate that PagerDuty will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its board has authorized a share repurchase program on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at PagerDuty

In other news, insider Shelley Webb sold 7,879 shares of the 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 transaction, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Tejada sold 1,569 shares of the business’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 of the company’s stock, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,048 shares of company stock worth $186,699. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. RGM Capital LLC lifted its stake in shares of PagerDuty by 1.3% during the 3rd quarter. RGM Capital LLC now owns 4,564,296 shares of the company’s stock worth $84,668,000 after purchasing an additional 59,902 shares during the last quarter. Janus Henderson Group PLC grew its stake in PagerDuty by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company’s stock valued at $55,817,000 after purchasing an additional 61,456 shares during the last quarter. Geode Capital Management LLC raised its holdings in PagerDuty by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock worth $39,915,000 after purchasing an additional 37,147 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of PagerDuty by 285.8% during the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock valued at $23,444,000 after buying an additional 936,257 shares during the last quarter. Finally, Barclays PLC boosted its stake in PagerDuty by 2.0% in the fourth quarter. Barclays PLC now owns 918,762 shares of the company’s stock valued at $16,777,000 after acquiring an additional 17,642 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

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.