PagerDuty (NYSE:PD) Sets New 1-Year Low - What's Next?

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

Analyst Upgrades and Downgrades

PD has been the topic of several recent analyst reports. Morgan Stanley dropped their target price 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. Royal Bank Of Canada lowered their target price on PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Canaccord Genuity Group reduced their price target on shares of PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. JPMorgan Chase & Co. decreased 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. Finally, Truist Financial dropped their target price on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $19.50.

PagerDuty Stock Down 2.4%

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 market cap of $1.27 billion, a P/E ratio of -34.95, a price-to-earnings-growth ratio of 8.23 and a beta of 0.88. The stock's fifty day moving average is $15.51 and its two-hundred day moving average is $17.39.

PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.24 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $118.98 million. During the same period in the previous year, the business earned $0.17 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that PagerDuty will post -0.27 earnings per share for the current year.

PagerDuty announced that its board has initiated a share repurchase program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its position 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 purchasing an additional 1,319 shares during the last quarter. Summit Securities Group LLC purchased a new position in PagerDuty during the 1st quarter valued at about $33,000. KBC Group NV bought a new position in PagerDuty during the 1st quarter valued at approximately $33,000. Venturi Wealth Management LLC bought a new position in PagerDuty during the 4th quarter valued at approximately $43,000. Finally, Picton Mahoney Asset Management bought a new position in PagerDuty during the 4th quarter valued at approximately $58,000. 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.

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