PagerDuty (NYSE:PD) Price Target Cut to $23.00 by Analysts at Truist Financial

PagerDuty (NYSE:PD) had its price objective reduced by Truist Financial from $26.00 to $23.00 in a research report report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their price target for the company from $23.00 to $18.00 in a report on Thursday, January 30th. The Goldman Sachs Group decreased their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada lowered their target price on shares of PagerDuty from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday. Canaccord Genuity Group dropped their price target on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, TD Securities cut their price target on shares of PagerDuty from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, PagerDuty has a consensus rating of “Hold” and a consensus target price of $19.67.

PagerDuty Trading Down 10.9%

Shares of PD opened at $14.35 on Friday. The stock’s 50-day moving average price is $16.04 and its 200 day moving average price is $17.88. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -17.94 and a beta of 0.99. PagerDuty has a 12-month low of $13.94 and a 12-month high of $23.12.

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

PagerDuty declared that its board has approved 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 purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of PagerDuty

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in shares of PagerDuty by 3.8% during the first quarter. Rhumbline Advisers now owns 136,343 shares of the company’s stock worth $2,491,000 after buying an additional 4,940 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of PagerDuty by 76.3% in the 1st quarter. Acadian Asset Management LLC now owns 56,790 shares of the company’s stock worth $1,036,000 after acquiring an additional 24,577 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PagerDuty by 19.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,941 shares of the company’s stock worth $5,115,000 after acquiring an additional 46,262 shares during the last quarter. Woodline Partners LP acquired a new stake in PagerDuty during the 1st quarter valued at $556,000. Finally, Petrus Trust Company LTA acquired a new stake in PagerDuty during the 1st quarter valued at $574,000. 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.