PagerDuty (NYSE:PD) Price Target Cut to $18.00 by Analysts at JPMorgan Chase & Co.

PagerDuty (NYSE:PD - Free Report) had its price objective reduced by JPMorgan Chase & Co. from $21.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

PD has been the topic of a number of other reports. Truist Financial cut their price objective on PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. TD Securities dropped their price target on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. The Goldman Sachs Group dropped their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Bank of America lowered shares of PagerDuty from a "buy" rating to an "underperform" rating and dropped their target price for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.67.

PagerDuty Trading Down 10.9%

Shares of NYSE:PD traded down $1.75 during mid-day trading on Friday, reaching $14.35. 4,343,663 shares of the company's stock were exchanged, compared to its average volume of 1,083,463. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -17.94 and a beta of 0.99. The business's fifty day moving average price is $16.04 and its 200-day moving average price is $17.86. 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 has a twelve month low of $13.94 and a twelve month high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $119.81 million for the quarter, compared to the consensus estimate of $118.98 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. On average, research analysts predict that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PD. Nuveen LLC acquired a new position in shares of PagerDuty during the first quarter worth approximately $13,018,000. Marshall Wace LLP raised its holdings in PagerDuty by 989.0% during the fourth quarter. Marshall Wace LLP now owns 721,953 shares of the company's stock worth $13,183,000 after buying an additional 655,655 shares during the last quarter. RGM Capital LLC raised its holdings in PagerDuty by 12.6% during the first quarter. RGM Capital LLC now owns 5,649,592 shares of the company's stock worth $103,218,000 after buying an additional 634,131 shares during the last quarter. Two Sigma Investments LP raised its holdings in PagerDuty by 1,222.8% during the fourth quarter. Two Sigma Investments LP now owns 431,252 shares of the company's stock worth $7,875,000 after buying an additional 398,650 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in PagerDuty during the fourth quarter worth $6,734,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.