PagerDuty (NYSE:PD) Hits New 52-Week Low - Here's What Happened

Shares of PagerDuty (NYSE:PD - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $13.93 and last traded at $13.96, with a volume of 794409 shares traded. The stock had previously closed at $14.27.

Analyst Ratings Changes

A number of analysts have issued reports on PD shares. JPMorgan Chase & Co. cut their price objective on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. TD Securities cut their target price on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Royal Bank Of Canada decreased 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. The Goldman Sachs Group decreased their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, PagerDuty currently has an average rating of "Hold" and a consensus price target of $19.50.

PagerDuty Stock Performance

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -35.16, a PEG ratio of 8.03 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 stock's 50-day moving average is $15.47 and its 200-day moving average is $17.29.

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

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

Hedge Funds Weigh In On PagerDuty

A number of hedge funds and other institutional investors have recently made changes to their positions in PD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PagerDuty by 1.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company's stock valued at $930,000 after purchasing an additional 586 shares in the last quarter. Alliancebernstein L.P. increased its holdings in 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 in the last quarter. Headlands Technologies LLC lifted its stake in PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock valued at $25,000 after buying an additional 1,319 shares during the period. Summit Securities Group LLC bought a new position in shares of PagerDuty during the 1st quarter worth approximately $33,000. Finally, KBC Group NV bought a new position in shares of PagerDuty during the 1st quarter worth approximately $33,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.