PagerDuty (NYSE:PD) Price Target Cut to $16.00 by Analysts at Robert W. Baird

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 objective cut by research analysts at Robert W. Baird from $18.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's price objective would suggest a potential downside of 3.40% from the company's previous close.

A number of other equities research analysts have also commented on the company. Zacks Research upgraded PagerDuty to a "hold" rating in a research report on Friday, August 8th. Canaccord Genuity Group decreased their price target on PagerDuty from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday. Wall Street Zen raised PagerDuty from a "buy" rating to a "strong-buy" rating in a report on Sunday. TD Securities lowered their price objective on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. lowered their price target on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, May 30th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $18.70.

PagerDuty Price Performance

PagerDuty stock traded up $0.97 during mid-day trading on Thursday, hitting $16.56. 2,728,200 shares of the company were exchanged, compared to its average volume of 1,521,317. The company has a market capitalization of $1.51 billion, a PE ratio of -41.19, a price-to-earnings-growth ratio of 10.04 and a beta of 0.88. The business has a fifty day moving average of $15.71 and a 200 day moving average of $16.14. PagerDuty has a 1-year low of $13.69 and a 1-year high of $21.98. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 2.70.

Institutional Investors Weigh In On PagerDuty

Several institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PagerDuty by 1.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company's stock valued at $930,000 after acquiring an additional 586 shares during the period. California State Teachers Retirement System lifted its stake in PagerDuty by 1.4% in the 2nd quarter. California State Teachers Retirement System now owns 81,474 shares of the company's stock valued at $1,245,000 after acquiring an additional 1,129 shares in the last quarter. Headlands Technologies LLC raised its stake 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. Summit Securities Group LLC bought a new stake in PagerDuty in the 1st quarter valued at $33,000. Finally, KBC Group NV acquired a new position in PagerDuty in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 97.26% of the company's stock.

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.

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