Truist Financial Cuts PagerDuty (NYSE:PD) Price Target to $23.00

PagerDuty (NYSE:PD - Get Free Report) had its price objective decreased by equities research analysts at Truist Financial from $26.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target points to a potential upside of 60.28% from the company's current price.

Several other research firms have also recently commented on PD. The Goldman Sachs Group lowered their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada lowered their price objective on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday. Canaccord Genuity Group lowered their price objective on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research note 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 note on Wednesday, April 16th. Finally, TD Securities lowered their price objective on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PagerDuty currently has an average rating of "Hold" and an average price target of $19.67.

PagerDuty Stock Performance

PD traded down $1.75 during trading hours on Friday, hitting $14.35. 4,343,663 shares of the stock were exchanged, compared to its average volume of 1,083,463. The stock has a 50-day simple moving average of $16.04 and a 200-day simple moving average of $17.86. PagerDuty has a 12 month low of $13.94 and a 12 month high of $23.12. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -17.94 and a beta of 0.99. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company had revenue of $119.81 million for the quarter, compared to analysts' expectations of $118.98 million. During the same period last year, the business posted $0.17 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that PagerDuty will post -0.27 earnings per share for the current year.

PagerDuty declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On PagerDuty

Several large investors have recently made changes to their positions in PD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $930,000 after purchasing an additional 586 shares during the period. Alliancebernstein L.P. increased its position in shares of PagerDuty by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock worth $1,691,000 after purchasing an additional 674 shares during the period. Headlands Technologies LLC increased its position in shares of PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock worth $25,000 after purchasing an additional 1,319 shares during the period. Summit Securities Group LLC bought a new position in shares of PagerDuty in the first quarter worth $33,000. Finally, KBC Group NV bought a new position in shares of PagerDuty in the first quarter worth $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.