PagerDuty (NYSE:PD) Price Target Lowered to $18.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered its price target for PagerDuty (NYSE:PD) from $20.00 to $18.00, maintaining an "outperform" rating which implies a potential upside of 14.18% from the previous close.
• Other analysts, including JPMorgan Chase & Co. and TD Securities, have also cut their price targets on PagerDuty to $18.00, with a mix of "underweight" and "hold" ratings across different firms.
• PagerDuty's shares are currently trading around $15.77, with a significant portion of its stock—approximately 97.26%—owned by institutional investors.

PagerDuty (NYSE:PD - Get Free Report) had its price target reduced by equities research analysts at Royal Bank Of Canada from $20.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 14.18% from the company's previous close.

A number of other equities analysts have also recently issued reports on PD. JPMorgan Chase & Co. cut their target price on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, May 30th. Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating in a report on Monday, July 28th. 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. Truist Financial decreased their price target on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, Zacks Research raised PagerDuty to a "hold" rating in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.00.

PagerDuty Price Performance

Shares of PD opened at $15.77 on Thursday. The business's 50 day moving average price is $15.71 and its two-hundred day moving average price is $16.14. The firm has a market cap of $1.44 billion, a PE ratio of -39.15, a price-to-earnings-growth ratio of 10.04 and a beta of 0.88. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.02 and a current ratio of 2.02. PagerDuty has a 52-week low of $13.69 and a 52-week high of $21.98.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PD. Price T Rowe Associates Inc. MD grew its position in PagerDuty by 11.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 91,763 shares of the company's stock worth $1,677,000 after purchasing an additional 9,405 shares during the period. Northern Trust Corp grew its holdings in PagerDuty by 4.0% during the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company's stock worth $16,563,000 after acquiring an additional 35,026 shares during the period. Balyasny Asset Management L.P. lifted its holdings in PagerDuty by 162.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 79,430 shares of the company's stock valued at $1,450,000 after acquiring an additional 49,182 shares during the period. Deutsche Bank AG boosted its position in PagerDuty by 0.5% in the 4th quarter. Deutsche Bank AG now owns 799,051 shares of the company's stock worth $14,591,000 after purchasing an additional 3,691 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of PagerDuty by 2.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company's stock worth $55,817,000 after purchasing an additional 61,456 shares during the period. Hedge funds and other institutional investors 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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