Royal Bank of Canada Has Lowered Expectations for PagerDuty (NYSE:PD) Stock Price

PagerDuty (NYSE:PD - Free Report) had its target price lowered by Royal Bank of Canada from $22.00 to $20.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. Truist Financial decreased their price objective on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Canaccord Genuity Group dropped their price target on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, March 14th. TD Securities reduced their price objective on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Bank of America cut PagerDuty from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group cut their price target 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. 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's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $19.50.

PagerDuty Stock Up 3.4%

PagerDuty stock traded up $0.48 during trading on Friday, hitting $14.78. 529,378 shares of the company were exchanged, compared to its average volume of 1,150,407. The company has a market capitalization of $1.35 billion, a P/E ratio of -18.47 and a beta of 0.99. The business's 50 day moving average is $15.94 and its 200 day moving average is $17.82. PagerDuty has a 52 week low of $13.94 and a 52 week high of $23.12. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. The firm had revenue of $119.81 million for the quarter, compared to the consensus estimate of $118.98 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. Analysts predict that PagerDuty will post -0.27 earnings per share for the current year.

PagerDuty announced that its Board of Directors has initiated a share buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On PagerDuty

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company's stock valued at $16,716,000 after purchasing an additional 175,733 shares during the period. Blue Trust Inc. raised its holdings in PagerDuty by 24.8% during the 4th quarter. Blue Trust Inc. now owns 14,796 shares of the company's stock valued at $274,000 after acquiring an additional 2,938 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of PagerDuty by 7.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company's stock worth $15,051,000 after acquiring an additional 55,233 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of PagerDuty in the fourth quarter worth $43,000. Finally, Handelsbanken Fonder AB grew its position in shares of PagerDuty by 12.4% in the fourth quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company's stock valued at $347,000 after purchasing an additional 2,100 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

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.