Brokerages Set PagerDuty (NYSE:PD) Target Price at $19.50

PagerDuty (NYSE:PD - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twelve brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.50.

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, May 30th. Royal Bank Of Canada reduced their price target on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Truist Financial dropped their price objective on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Finally, TD Securities cut their target price 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.

PagerDuty Price Performance

Shares of NYSE PD traded up $0.25 during trading hours on Thursday, hitting $15.97. 1,265,761 shares of the stock were exchanged, compared to its average volume of 1,130,443. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market cap of $1.45 billion, a PE ratio of -39.93, a price-to-earnings-growth ratio of 9.22 and a beta of 0.89. The company's fifty day simple moving average is $15.48 and its two-hundred day simple moving average is $16.95. PagerDuty has a 1-year low of $13.70 and a 1-year high of $22.02.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $119.81 million for the quarter, compared to analyst estimates of $118.98 million. PagerDuty had a negative net margin of 7.75% and a negative return on equity of 8.73%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. On average, sell-side analysts predict that PagerDuty will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On PagerDuty

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PagerDuty by 1.2% during 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 last quarter. Alliancebernstein L.P. raised its stake in shares of PagerDuty by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock valued at $1,691,000 after acquiring an additional 674 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of PagerDuty by 2,235.6% during the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock valued at $25,000 after acquiring an additional 1,319 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of PagerDuty during the first quarter valued at $33,000. Finally, KBC Group NV bought a new position in shares of PagerDuty during the first quarter valued at $33,000. 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.