PagerDuty (NYSE:PD) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• PagerDuty has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence from analysts.
• The stock opened at $16.72, with a 52-week range between $13.69 and $21.98, and a current consensus rating of "Hold" among analysts.
• Significant institutional investor interest is evident, with 97.26% of the company's stock now owned by these investors.

Wall Street Zen upgraded shares of PagerDuty (NYSE:PD - Free Report) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

Several other research firms have also commented on PD. JPMorgan Chase & Co. lowered their price target on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, May 30th. TD Securities lowered their price target on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. TD Cowen upgraded shares of 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, July 28th. Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating in a research report on Monday, July 28th. Finally, Zacks Research upgraded shares of PagerDuty to a "hold" rating in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.75.

PagerDuty Price Performance

Shares of PD stock traded down $0.85 during trading hours on Friday, hitting $15.27. The company's stock had a trading volume of 2,904,866 shares, compared to its average volume of 1,494,427. The business has a fifty day moving average of $15.69 and a 200-day moving average of $16.14. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -38.20, a P/E/G ratio of 10.04 and a beta of 0.88. PagerDuty has a twelve month low of $13.69 and a twelve month high of $21.98. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.70.

Hedge Funds Weigh In On PagerDuty

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PagerDuty by 1.2% in 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 during the last quarter. California State Teachers Retirement System boosted its holdings in shares of PagerDuty by 1.4% in the 2nd quarter. California State Teachers Retirement System now owns 81,474 shares of the company's stock valued at $1,245,000 after purchasing an additional 1,129 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of PagerDuty by 2,235.6% in the 1st 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 acquired a new position in shares of PagerDuty in the 1st quarter valued at $33,000. Finally, KBC Group NV acquired a new position in shares of PagerDuty in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 97.26% of the company's stock.

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.