PagerDuty (NYSE:PD) Shares Gap Up - Time to Buy?

Key Points

• PagerDuty (NYSE: PD) shares opened at $16.53, increasing from a previous close of $16.06, with a volume of 634,117 shares traded.
• Analysts have mixed opinions on PagerDuty, with price targets ranging from $17.00 to $23.00; however, the overall consensus rating is a "Hold" with an average price target of $19.75.
• PagerDuty reported earnings of $0.24 per share for the last quarter, surpassing estimates, with revenue of $119.81 million, marking a 7.8% year-over-year increase.

Shares of PagerDuty (NYSE:PD - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $16.06, but opened at $16.53. PagerDuty shares last traded at $16.06, with a volume of 634,117 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PD shares. Morgan Stanley decreased their price target on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group decreased 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. TD Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 price target on the stock in a research note on Monday, July 28th. JPMorgan Chase & Co. decreased their price target on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research note on Friday, May 30th. Finally, Truist Financial decreased their target price on PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $19.75.

PagerDuty Stock Performance

The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -40.69, a PEG ratio of 9.24 and a beta of 0.89. The stock has a fifty day moving average price of $15.30 and a two-hundred day moving average price of $16.43. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 2.70.

PagerDuty (NYSE:PD - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $119.81 million during 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 business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, analysts forecast that PagerDuty will post -0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On PagerDuty

Several institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd grew its position in PagerDuty by 31.7% during the second quarter. Qube Research & Technologies Ltd now owns 773,715 shares of the company's stock valued at $11,822,000 after acquiring an additional 186,152 shares during the period. AXA S.A. purchased a new stake in PagerDuty during the second quarter valued at about $205,000. Bollard Group LLC purchased a new stake in PagerDuty during the second quarter valued at about $1,446,000. Cerity Partners LLC purchased a new stake in PagerDuty during the second quarter valued at about $290,000. Finally, Federated Hermes Inc. grew its position in PagerDuty by 807.8% during the second quarter. Federated Hermes Inc. now owns 156,058 shares of the company's stock valued at $2,385,000 after acquiring an additional 138,867 shares during the period. 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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