PagerDuty (NYSE:PD) Releases Q2 2023 Earnings Guidance

PagerDuty (NYSE:PDGet Rating) updated its second quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -$0.09–$0.08 for the period, compared to the consensus estimate of -$0.08. The company issued revenue guidance of $87.00 million-$89.00 million, compared to the consensus revenue estimate of $87.20 million.PagerDuty also updated its FY 2023 guidance to -$0.21–$0.17 EPS.

Several brokerages recently commented on PD. Zacks Investment Research raised shares of PagerDuty from a sell rating to a hold rating in a research note on Wednesday, May 18th. Royal Bank of Canada dropped their target price on shares of PagerDuty from $46.00 to $41.00 in a research report on Tuesday, May 31st. Robert W. Baird dropped their target price on shares of PagerDuty from $47.00 to $40.00 and set an outperform rating for the company in a research report on Friday, June 3rd. Craig Hallum dropped their target price on shares of PagerDuty from $45.00 to $37.00 and set a buy rating for the company in a research report on Friday, June 3rd. Finally, Morgan Stanley dropped their target price on shares of PagerDuty from $49.00 to $32.00 and set an equal weight rating for the company in a research report on Thursday, May 19th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, PagerDuty currently has an average rating of Buy and an average target price of $47.38.

NYSE:PD opened at $27.85 on Thursday. The firm’s 50-day moving average price is $28.37 and its 200-day moving average price is $31.43. The company has a market capitalization of $2.45 billion, a PE ratio of -20.18 and a beta of 1.22. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.54 and a quick ratio of 2.84. PagerDuty has a 1-year low of $21.72 and a 1-year high of $50.33.

PagerDuty (NYSE:PDGet Rating) last released its earnings results on Thursday, June 2nd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The firm had revenue of $85.37 million for the quarter, compared to the consensus estimate of $82.67 million. PagerDuty had a negative net margin of 38.83% and a negative return on equity of 41.92%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.27) EPS. Equities analysts anticipate that PagerDuty will post -1.18 EPS for the current fiscal year.

In related news, CEO Jennifer Tejada sold 68,182 shares of the stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $31.17, for a total transaction of $2,125,232.94. Following the sale, the chief executive officer now directly owns 897,974 shares of the company’s stock, valued at approximately $27,989,849.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Wilson sold 60,336 shares of the stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $35.35, for a total transaction of $2,132,877.60. The disclosure for this sale can be found here. Insiders sold a total of 135,992 shares of company stock worth $4,527,167 over the last ninety days. Insiders own 8.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of PD. Goldman Sachs Group Inc. lifted its stake in PagerDuty by 47.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,099,664 shares of the company’s stock valued at $37,598,000 after acquiring an additional 353,682 shares during the period. Renaissance Technologies LLC bought a new position in PagerDuty during the 1st quarter valued at about $8,527,000. JPMorgan Chase & Co. lifted its stake in PagerDuty by 102.5% during the 1st quarter. JPMorgan Chase & Co. now owns 263,244 shares of the company’s stock valued at $9,000,000 after acquiring an additional 133,253 shares during the period. Vanguard Group Inc. lifted its stake in PagerDuty by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 6,783,833 shares of the company’s stock valued at $231,939,000 after acquiring an additional 80,474 shares during the period. Finally, Barclays PLC lifted its stake in shares of PagerDuty by 59.4% in the 4th quarter. Barclays PLC now owns 177,351 shares of the company’s stock worth $6,162,000 after purchasing an additional 66,124 shares during the period. Institutional investors and hedge funds own 89.33% of the company’s stock.

About PagerDuty (Get Rating)

PagerDuty, Inc operates a digital operations management platform in the United States and internationally. Its digital operations management platform collects data digital signals from virtually any software-enabled system or device, and leverage powerful machine learning to correlate, process, and predict opportunities and issues.

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