PagerDuty (NYSE:PD) Receives Average Rating of "Hold" from Brokerages

PagerDuty (NYSE:PD - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twelve analysts that are covering the company, Marketbeat Ratings reports. Two research 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 price target among brokerages that have issued ratings on the stock in the last year is $19.50.

Several research firms have recently commented on PD. JPMorgan Chase & Co. lowered 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. Truist Financial lowered their target price on PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Royal Bank Of Canada dropped their price target on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. TD Securities cut their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group decreased their price objective on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th.

PagerDuty Price Performance

PD stock opened at $15.72 on Thursday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -39.30, a PEG ratio of 9.00 and a beta of 0.89. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.70. The firm has a 50 day moving average of $15.46 and a 200-day moving average of $17.02. PagerDuty has a 12-month low of $13.70 and a 12-month high of $22.51.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $119.81 million during the quarter, compared to analysts' expectations of $118.98 million. PagerDuty had a negative return on equity of 8.73% and a negative net margin of 7.75%. PagerDuty's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share. As a group, equities analysts expect that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its Board of Directors has approved a share buyback plan on Thursday, March 13th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On PagerDuty

Institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its stake in shares of PagerDuty by 6.8% during the 1st quarter. Voya Investment Management LLC now owns 168,728 shares of the company's stock valued at $3,083,000 after acquiring an additional 10,768 shares during the last quarter. Rhumbline Advisers grew its holdings in PagerDuty by 3.8% in the first quarter. Rhumbline Advisers now owns 136,343 shares of the company's stock valued at $2,491,000 after purchasing an additional 4,940 shares during the period. Acadian Asset Management LLC increased its position in PagerDuty by 76.3% during the first quarter. Acadian Asset Management LLC now owns 56,790 shares of the company's stock worth $1,036,000 after purchasing an additional 24,577 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in PagerDuty by 19.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,941 shares of the company's stock worth $5,115,000 after purchasing an additional 46,262 shares during the period. Finally, Woodline Partners LP acquired a new position in shares of PagerDuty in the 1st quarter valued at $556,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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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