PagerDuty (NYSE:PD) Price Target Raised to $14.00

Key Points

• Royal Bank of Canada raised its PagerDuty price target from $12 to $14 and maintained a “sector perform” rating; the target implies 10.66% downside from the prior close.
• Analyst sentiment is mixed: PagerDuty has an average “Hold” rating and a consensus price target of $12.81, with three Buy, five Hold, and two Sell ratings.
• PagerDuty’s latest quarterly results slightly beat expectations, reporting $0.32 EPS and $124.44 million in revenue; revenue rose 0.8% year over year.

PagerDuty (NYSE:PD - Get Free Report) had its price target raised by equities researchers at Royal Bank Of Canada from $12.00 to $14.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential downside of 10.66% from the company's previous close.

Several other research firms have also recently weighed in on PD. Wall Street Zen cut shares of PagerDuty from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. TD Cowen reiterated a "buy" rating on shares of PagerDuty in a research note on Wednesday, August 26th. Truist Financial boosted their target price on PagerDuty from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Canaccord Genuity Group increased their price target on PagerDuty from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Finally, UBS Group set a $13.50 price target on PagerDuty in a research report on Wednesday, August 26th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, PagerDuty presently has an average rating of "Hold" and a consensus target price of $12.81.

PagerDuty Stock Down 0.1%

Shares of PagerDuty stock opened at $15.67 on Monday. The stock's fifty day moving average is $15.51 and its 200-day moving average is $10.30. The firm has a market capitalization of $1.23 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.71. PagerDuty has a 12-month low of $5.70 and a 12-month high of $18.06.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. PagerDuty had a return on equity of 18.52% and a net margin of 37.50%. The business had revenue of $124.44 million during the quarter, compared to analyst estimates of $123.27 million. During the same quarter last year, the company posted $0.30 EPS. PagerDuty's revenue for the quarter was up .8% on a year-over-year basis. PagerDuty has set its FY 2027 guidance at 1.330-1.370 EPS and its Q3 2027 guidance at 0.340-0.360 EPS. Equities analysts anticipate that PagerDuty will post 0.69 earnings per share for the current year.

Insider Transactions at PagerDuty

In other PagerDuty news, insider Jennifer Tejada sold 107,000 shares of PagerDuty stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $15.11, for a total transaction of $1,616,770.00. Following the completion of the sale, the insider owned 1,563,251 shares of the company's stock, valued at approximately $23,620,722.61. The trade was a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 178,445 shares of company stock valued at $2,830,480 over the last quarter. 6.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new position in shares of PagerDuty during the first quarter worth $6,074,000. Glenmede Trust Co. NA increased its position in shares of PagerDuty by 35.7% in the 1st quarter. Glenmede Trust Co. NA now owns 937,505 shares of the company's stock valued at $5,822,000 after buying an additional 246,482 shares in the last quarter. Bank of New York Mellon Corp raised its stake in PagerDuty by 44.5% during the 1st quarter. Bank of New York Mellon Corp now owns 816,688 shares of the company's stock worth $5,072,000 after buying an additional 251,651 shares during the period. Deutsche Bank AG bought a new position in PagerDuty during the second quarter worth about $5,642,000. Finally, Pacer Advisors Inc. lifted its holdings in PagerDuty by 73.9% during the first quarter. Pacer Advisors Inc. now owns 569,907 shares of the company's stock worth $3,539,000 after acquiring an additional 242,100 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company's stock.

About PagerDuty

PagerDuty, Inc is a technology company that provides digital operations management software for organizations. Its platform helps businesses detect, triage and respond to operational issues affecting applications, infrastructure, services and customer experiences.

The company's products include incident response, event intelligence, AIOps, process automation and customer service operations capabilities. PagerDuty integrates with monitoring, development, collaboration and information technology tools to help teams centralize alerts, automate workflows, coordinate responses and reduce the impact of service disruptions.

Founded in 2009, PagerDuty is headquartered in San Francisco and serves organizations across multiple industries and geographic markets worldwide.

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