Truist Financial Issues Positive Forecast for PagerDuty (NYSE:PD) Stock Price

Key Points

• Truist Financial raised PagerDuty’s price target from $11 to $13 and maintained a “buy” rating, implying 7.44% upside from the previous close.
• Analyst sentiment remains mixed: MarketBeat reports a consensus “hold” rating and an average price target of $12.12, with three buys, five holds, and three sells.
• PagerDuty recently beat quarterly earnings and revenue expectations and authorized a $100 million share buyback, allowing repurchases of up to 16.4% of outstanding shares.

PagerDuty (NYSE:PD - Get Free Report) had its price target increased by research analysts at Truist Financial from $11.00 to $13.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 7.44% from the company's previous close.

Other analysts also recently issued research reports about the stock. Morgan Stanley lowered shares of PagerDuty from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $10.00 to $9.00 in a research note on Tuesday, July 21st. Canaccord Genuity Group lifted their price objective on PagerDuty from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Wall Street Zen downgraded PagerDuty from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings raised PagerDuty from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada boosted their price target on PagerDuty from $9.00 to $12.00 and gave the stock a "sector perform" rating in a research report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, PagerDuty has a consensus rating of "Hold" and an average target price of $12.12.

PagerDuty Price Performance

Shares of PagerDuty stock traded down $0.07 on Thursday, hitting $12.10. 194,815 shares of the company were exchanged, compared to its average volume of 2,485,663. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.83. The company has a 50-day moving average price of $10.15 and a 200 day moving average price of $8.26. The stock has a market capitalization of $933.15 million, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 3.04 and a beta of 0.93. PagerDuty has a 1-year low of $5.70 and a 1-year high of $17.29.

PagerDuty (NYSE:PD - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.08. PagerDuty had a return on equity of 18.20% and a net margin of 38.60%.The company had revenue of $120.97 million during the quarter, compared to the consensus estimate of $119.52 million. During the same period in the previous year, the company posted $0.24 EPS. PagerDuty's revenue was up 1.0% compared to the same quarter last year. PagerDuty has set its Q2 2027 guidance at 0.290-0.310 EPS. As a group, sell-side analysts predict that PagerDuty will post 0.58 earnings per share for the current fiscal year.

PagerDuty announced that its Board of Directors has authorized a stock buyback program on Thursday, May 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 16.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Institutional Trading of PagerDuty

A number of large investors have recently bought and sold shares of PD. Hennessy Advisors Inc. acquired a new stake in PagerDuty in the 2nd quarter valued at about $176,000. Formula Growth Ltd. acquired a new position in PagerDuty during the second quarter valued at approximately $1,206,000. Proficio Capital Partners LLC bought a new stake in shares of PagerDuty during the 2nd quarter worth $129,000. Corient Private Wealth LP bought a new position in shares of PagerDuty in the second quarter worth about $191,000. Finally, Palogic Value Management L.P. acquired a new stake in shares of PagerDuty during the 2nd quarter valued at $1,209,000. 97.26% of the stock is owned by 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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.

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