PagerDuty (NYSE:PD) Receives Average Recommendation of "Hold" from Analysts

Key Points

• PagerDuty has received an average recommendation of "Hold" from analysts, with two ratings for sell, six for hold, and four for buy.
• The average target price among analysts for PagerDuty is currently $19.50, which shows a decrease from previous estimates set by various investment firms.
• In the first quarter, institutional ownership of PagerDuty reached 97.26%, indicating significant confidence from hedge funds and institutional investors in the company's future.

PagerDuty (NYSE:PD - Get Free Report) has been assigned a consensus recommendation of "Hold" from the thirteen brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.75.

PD has been the topic of several recent research reports. Canaccord Genuity Group dropped their price target on PagerDuty from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Cowen raised PagerDuty from a "hold" rating to a "buy" rating in a research report on Monday. TD Cowen raised PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a research report on Monday. TD Securities lowered their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada lowered their price target on PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th.

Hedge Funds Weigh In On PagerDuty

Several hedge funds and other institutional investors have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in PagerDuty during the 2nd quarter worth about $246,000. CWM LLC raised its position in shares of PagerDuty by 78.4% in the 2nd quarter. CWM LLC now owns 18,086 shares of the company's stock worth $276,000 after acquiring an additional 7,949 shares in the last quarter. SteelPeak Wealth LLC raised its position in shares of PagerDuty by 16.8% in the 2nd quarter. SteelPeak Wealth LLC now owns 27,287 shares of the company's stock worth $417,000 after acquiring an additional 3,928 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of PagerDuty in the 2nd quarter worth about $419,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of PagerDuty by 13.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,476 shares of the company's stock worth $343,000 after acquiring an additional 2,670 shares in the last quarter. Institutional investors own 97.26% of the company's stock.

PagerDuty Trading Down 0.6%

PD traded down $0.10 during mid-day trading on Monday, reaching $16.21. The stock had a trading volume of 261,603 shares, compared to its average volume of 1,335,095. PagerDuty has a 52 week low of $13.69 and a 52 week high of $21.98. 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 stock has a market capitalization of $1.48 billion, a P/E ratio of -40.56, a P/E/G ratio of 9.84 and a beta of 0.89. The firm's fifty day simple moving average is $15.26 and its two-hundred day simple moving average is $16.62.

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 return on equity of 8.73% and a negative net margin of 7.75%. The firm's revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. On average, equities analysts predict that PagerDuty will post -0.27 EPS for the current year.

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.