PagerDuty (NYSE:PD) Hits New 12-Month Low - Here's Why

PagerDuty, Inc. (NYSE:PD - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $14.37 and last traded at $14.39, with a volume of 105762 shares changing hands. The stock had previously closed at $14.74.

Wall Street Analyst Weigh In

PD has been the subject of a number of research reports. Bank of America downgraded shares of PagerDuty from a "buy" rating to an "underperform" rating and reduced their target price for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. The Goldman Sachs Group decreased their price target on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Canaccord Genuity Group lowered their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Morgan Stanley dropped their target price on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada dropped their price target on PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.55.

PagerDuty Stock Performance

The firm has a market cap of $1.43 billion, a P/E ratio of -19.65 and a beta of 1.06. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The business's fifty day simple moving average is $17.03 and its 200-day simple moving average is $18.36.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. As a group, sell-side analysts expect that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty declared that its board has initiated a stock buyback plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board believes its shares are undervalued.

Insider Transactions at PagerDuty

In other news, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in PagerDuty by 2.1% in the fourth 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 last quarter. JPMorgan Chase & Co. increased its stake in PagerDuty by 285.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock worth $23,444,000 after buying an additional 936,257 shares in the last quarter. Barclays PLC grew its position in shares of PagerDuty by 2.0% during the fourth quarter. Barclays PLC now owns 918,762 shares of the company's stock worth $16,777,000 after purchasing an additional 17,642 shares in the last quarter. Northern Trust Corp raised its position in shares of PagerDuty by 4.0% during the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after buying an additional 35,026 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in PagerDuty by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock valued at $16,531,000 after acquiring an additional 100,207 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

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.