PagerDuty (NYSE:PD) Receives Outperform Rating from Royal Bank of Canada

PagerDuty (NYSE:PD – Get Rating)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued on Monday, Benzinga reports. They currently have a $32.00 price objective on the stock. Royal Bank of Canada’s target price suggests a potential upside of 14.90% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Robert W. Baird cut their price target on PagerDuty from $35.00 to $32.00 in a research note on Friday, December 2nd. Craig Hallum cut their price objective on PagerDuty to $32.00 in a research note on Friday, December 2nd. Canaccord Genuity Group cut their price objective on PagerDuty from $32.00 to $31.00 in a research note on Monday, December 5th. Morgan Stanley upgraded PagerDuty from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $32.00 to $36.00 in a research note on Friday, January 20th. Finally, Credit Suisse Group boosted their price objective on PagerDuty from $32.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.91.

PagerDuty Price Performance

Shares of PagerDuty stock opened at $27.85 on Monday. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.18. PagerDuty has a twelve month low of $19.51 and a twelve month high of $38.75. The business has a 50-day moving average price of $28.76 and a 200 day moving average price of $25.54. The firm has a market cap of $2.51 billion, a PE ratio of -18.32 and a beta of 0.91.

Insider Activity

In related news, SVP Shelley Webb sold 6,316 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $30.00, for a total value of $189,480.00. Following the transaction, the senior vice president now directly owns 140,923 shares in the company, valued at $4,227,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Shelley Webb sold 6,316 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $30.00, for a total value of $189,480.00. Following the transaction, the senior vice president now directly owns 140,923 shares in the company, valued at $4,227,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 36,191 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $28.01, for a total value of $1,013,709.91. Following the completion of the transaction, the chief executive officer now owns 606,465 shares in the company, valued at $16,987,084.65. The disclosure for this sale can be found here. Insiders sold 492,358 shares of company stock worth $14,064,972 over the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PD. Advisors Asset Management Inc. lifted its stake in PagerDuty by 6.5% during the second quarter. Advisors Asset Management Inc. now owns 6,038 shares of the company’s stock worth $150,000 after purchasing an additional 369 shares in the last quarter. American International Group Inc. lifted its stake in PagerDuty by 1.3% during the fourth quarter. American International Group Inc. now owns 40,906 shares of the company’s stock worth $1,086,000 after purchasing an additional 508 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in PagerDuty by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 34,383 shares of the company’s stock worth $913,000 after purchasing an additional 518 shares in the last quarter. Sigma Planning Corp increased its position in shares of PagerDuty by 5.9% during the fourth quarter. Sigma Planning Corp now owns 10,437 shares of the company’s stock worth $277,000 after acquiring an additional 585 shares during the period. Finally, Amalgamated Bank increased its position in shares of PagerDuty by 4.7% during the fourth quarter. Amalgamated Bank now owns 14,343 shares of the company’s stock worth $381,000 after acquiring an additional 650 shares during the period. 90.66% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Company Profile

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PagerDuty, Inc operates a digital operations management platform. It provides incident management solution that integrates with information technology Ops and DevOps monitoring stacks to improve operational reliability and agility. The firm collect machine generated data from virtually any software-enabled system or device, combine it with human response data, correlating and interpreting this data to understand issues and opportunities that need to be addressed in real-time.