PagerDuty, Inc. (NYSE:PD) Given Average Rating of "Hold" by Brokerages

PagerDuty, Inc. (NYSE:PD - Get Free Report) has received an average recommendation of "Hold" from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $20.55.

A number of equities research analysts have recently issued reports on PD shares. Royal Bank of Canada cut their price target on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Truist Financial lowered their price objective on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. The Goldman Sachs Group lowered their price objective on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Morgan Stanley lowered their price objective on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Canaccord Genuity Group decreased their target price on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, March 14th.

PagerDuty Price Performance

NYSE PD opened at $17.00 on Wednesday. PagerDuty has a 1 year low of $14.30 and a 1 year high of $23.12. The business's fifty day moving average is $16.53 and its two-hundred day moving average is $18.14. The stock has a market capitalization of $1.55 billion, a P/E ratio of -21.25 and a beta of 0.99. 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 - Get Free Report) last announced its 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 company had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same period in the previous year, the firm earned $0.17 earnings per share. PagerDuty's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts forecast that PagerDuty will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of PagerDuty

A number of hedge funds have recently bought and sold shares of PD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PagerDuty by 1.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company's stock worth $930,000 after purchasing an additional 586 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of PagerDuty by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock worth $1,691,000 after purchasing an additional 674 shares in the last quarter. Headlands Technologies LLC increased its position in shares of PagerDuty by 2,235.6% during the 1st quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock worth $25,000 after purchasing an additional 1,319 shares in the last quarter. Franklin Resources Inc. increased its position in shares of PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock worth $614,000 after purchasing an additional 1,701 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of PagerDuty during the 1st quarter worth about $33,000. 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.

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