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PagerDuty (NYSE:PD) Upgraded to Buy at TD Cowen

PagerDuty logo with Computer and Technology background

Key Points

  • PagerDuty has been upgraded to a "buy" rating by TD Cowen, with a price target of $22.00, indicating a potential upside of 39.62% from its previous close.
  • Several analysts have revised their views on PagerDuty, resulting in mixed ratings with six buy ratings, two sell ratings, and a consensus "hold" rating.
  • PagerDuty reported an earnings per share of $0.24 for the latest quarter, exceeding analyst expectations, and indicated a year-over-year revenue increase of 7.8%.
  • Interested in PagerDuty? Here are five stocks we like better.
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PagerDuty (NYSE:PD - Get Free Report) was upgraded by investment analysts at TD Cowen from a "hold" rating to a "buy" rating in a research report issued on Monday, MarketBeat Ratings reports. The firm currently has a $22.00 price objective on the stock. TD Cowen's target price indicates a potential upside of 39.62% from the stock's previous close.

A number of other analysts have also commented on the company. Canaccord Genuity Group decreased their target price on 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. dropped their price objective on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research note on Friday, May 30th. Royal Bank Of Canada lowered their target price on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Truist Financial decreased their price target on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Finally, Morgan Stanley reduced their target price 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $19.75.

View Our Latest Research Report on PagerDuty

PagerDuty Stock Performance

PD stock opened at $15.76 on Monday. The business's 50-day moving average price is $15.23 and its two-hundred day moving average price is $16.63. 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 $1.44 billion, a PE ratio of -39.39, a P/E/G ratio of 9.43 and a beta of 0.89. PagerDuty has a 1-year low of $13.69 and a 1-year high of $22.02.

PagerDuty (NYSE:PD - Get Free Report) last released its 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%. PagerDuty's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, research analysts forecast that PagerDuty will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On PagerDuty

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC boosted 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 acquiring an additional 1,319 shares in the last quarter. KBC Group NV purchased a new position in shares of PagerDuty in the first quarter worth $33,000. Summit Securities Group LLC purchased a new position in shares of PagerDuty in the first quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PagerDuty in the fourth quarter worth $130,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of PagerDuty during the first quarter worth $229,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

About PagerDuty

(Get Free Report)

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.

Read More

Analyst Recommendations for PagerDuty (NYSE:PD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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