Robert W. Baird Cuts PagerDuty (NYSE:PD) Price Target to $16.00

Key Points

• Robert W. Baird has lowered PagerDuty's price target from $18.00 to $16.00, suggesting a potential downside of 3.40% from its previous close, while maintaining a "neutral" rating on the stock.
• The company has received mixed ratings from analysts, with five analysts giving a Buy rating, five a Hold rating, and two a Sell rating, leading to a consensus rating of "Hold" and an average price target of $18.70.
• PagerDuty shares traded at $16.56 recently, with a market capitalization of $1.51 billion and a notable 1-year high of $21.98.

PagerDuty (NYSE:PD - Get Free Report) had its price target cut by equities researchers at Robert W. Baird from $18.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's price target would suggest a potential downside of 3.38% from the stock's previous close.

A number of other analysts have also weighed in on PD. Truist Financial lowered their target price on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their price objective on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, May 30th. Canaccord Genuity Group decreased their target price on PagerDuty from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, September 4th. Zacks Research upgraded PagerDuty to a "hold" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded PagerDuty from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 31st. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, PagerDuty presently has an average rating of "Hold" and a consensus price target of $18.70.

PagerDuty Price Performance

Shares of NYSE PD traded down $0.61 during midday trading on Thursday, reaching $16.56. 1,908,147 shares of the company traded hands, compared to its average volume of 1,555,475. The firm has a market cap of $1.54 billion, a PE ratio of -103.59, a PEG ratio of 7.90 and a beta of 0.88. The stock's 50-day simple moving average is $15.81 and its 200-day simple moving average is $16.07. PagerDuty has a 12 month low of $13.69 and a 12 month high of $21.98. The company has a debt-to-equity ratio of 2.18, a quick ratio of 2.39 and a current ratio of 2.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its holdings 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. KBC Group NV bought a new position in shares of PagerDuty during the first quarter worth about $33,000. Summit Securities Group LLC bought a new stake in PagerDuty in the first quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PagerDuty in the fourth quarter valued at approximately $130,000. Finally, State of Tennessee Department of Treasury acquired a new stake in PagerDuty in the second quarter valued at approximately $160,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.