PagerDuty (NYSE:PD) Price Target Cut to $18.00 by Analysts at Robert W. Baird

PagerDuty (NYSE:PD) had its price objective lowered by Robert W. Baird from $22.00 to $18.00 in a report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on PD. Bank of America lowered their price target on shares of PagerDuty from $28.00 to $23.00 and set a buy rating for the company in a report on Wednesday. The Goldman Sachs Group started coverage on PagerDuty in a research note on Thursday, July 18th. They issued a neutral rating and a $24.00 target price for the company. JPMorgan Chase & Co. began coverage on PagerDuty in a research note on Thursday, June 27th. They set a neutral rating and a $24.00 price target on the stock. Morgan Stanley lowered their price objective on PagerDuty from $24.00 to $19.00 and set an equal weight rating for the company in a research report on Wednesday. Finally, Canaccord Genuity Group cut their target price on shares of PagerDuty from $27.00 to $26.00 and set a buy rating on the stock in a research report on Friday, May 31st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $21.91.

PagerDuty Price Performance

PagerDuty stock opened at $18.08 on Wednesday. The business’s fifty day moving average is $20.35 and its two-hundred day moving average is $21.11. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. The firm has a market cap of $1.73 billion, a P/E ratio of -17.90 and a beta of 1.05. PagerDuty has a 52 week low of $16.46 and a 52 week high of $26.70.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative net margin of 21.34% and a negative return on equity of 28.38%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. Equities research analysts forecast that PagerDuty will post -0.44 earnings per share for the current fiscal year.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $21.07, for a total value of $658,437.50. Following the sale, the chief executive officer now directly owns 1,023,579 shares in the company, valued at $21,566,809.53. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total value of $658,437.50. Following the completion of the transaction, the chief executive officer now directly owns 1,023,579 shares of the company’s stock, valued at $21,566,809.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Wilson sold 12,108 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $20.49, for a total value of $248,092.92. Following the sale, the chief financial officer now directly owns 594,202 shares in the company, valued at approximately $12,175,198.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its position in shares of PagerDuty by 1,537.2% during the second quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after buying an additional 1,322 shares during the period. First Horizon Advisors Inc. lifted its stake in PagerDuty by 28.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after acquiring an additional 508 shares in the last quarter. Fred Alger Management LLC boosted its position in PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after acquiring an additional 1,578 shares during the last quarter. Cambridge Trust Co. bought a new position in shares of PagerDuty during the 1st quarter worth approximately $68,000. Finally, Headlands Technologies LLC acquired a new stake in shares of PagerDuty in the second quarter valued at approximately $114,000. 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.