Morgan Stanley Trims PagerDuty (NYSE:PD) Target Price to $31.00

PagerDuty (NYSE:PDGet Rating) had its target price lowered by Morgan Stanley from $34.00 to $31.00 in a research report released on Monday morning, MarketBeat reports. The firm currently has an equal weight rating on the stock.

PD has been the topic of several other research reports. Craig Hallum dropped their price target on shares of PagerDuty from $37.00 to $34.00 and set a buy rating on the stock in a research report on Friday, September 2nd. Truist Financial dropped their price target on shares of PagerDuty from $35.00 to $30.00 in a research report on Wednesday, October 26th. Cowen dropped their target price on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Friday, September 2nd. Credit Suisse Group initiated coverage on shares of PagerDuty in a research report on Friday, September 23rd. They issued an outperform rating and a $32.00 target price on the stock. Finally, Cowen dropped their target price on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Friday, September 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $38.12.

PagerDuty Stock Up 4.0 %

NYSE:PD opened at $22.00 on Monday. The firm has a market capitalization of $1.96 billion, a P/E ratio of -14.97 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.48 and a quick ratio of 2.48. The company’s fifty day moving average price is $22.97 and its 200-day moving average price is $24.77. PagerDuty has a 1-year low of $19.51 and a 1-year high of $38.75.

PagerDuty (NYSE:PDGet Rating) last released its quarterly earnings results on Thursday, September 1st. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.06). The firm had revenue of $90.30 million for the quarter, compared to analyst estimates of $88.22 million. PagerDuty had a negative net margin of 38.83% and a negative return on equity of 45.04%. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) EPS. As a group, equities research analysts anticipate that PagerDuty will post -1.3 EPS for the current year.

Insider Transactions at PagerDuty

In other news, CFO Howard Wilson sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $25.09, for a total value of $501,800.00. Following the transaction, the chief financial officer now directly owns 418,408 shares of the company’s stock, valued at $10,497,856.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other PagerDuty news, CRO Dave Justice sold 1,362 shares of PagerDuty stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $23.55, for a total transaction of $32,075.10. Following the transaction, the executive now directly owns 429,194 shares of the company’s stock, valued at $10,107,518.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Wilson sold 20,000 shares of PagerDuty stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $25.09, for a total transaction of $501,800.00. Following the transaction, the chief financial officer now directly owns 418,408 shares in the company, valued at $10,497,856.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,689 shares of company stock valued at $890,298. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

A number of institutional investors have recently bought and sold shares of PD. Arizona State Retirement System raised its stake in shares of PagerDuty by 2.0% in the 1st quarter. Arizona State Retirement System now owns 18,375 shares of the company’s stock valued at $628,000 after acquiring an additional 365 shares during the period. Advisors Asset Management Inc. raised its stake in shares of PagerDuty by 6.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,038 shares of the company’s stock valued at $150,000 after acquiring an additional 369 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of PagerDuty by 3.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 15,735 shares of the company’s stock valued at $777,000 after acquiring an additional 451 shares during the period. US Bancorp DE raised its stake in shares of PagerDuty by 39.0% in the 2nd quarter. US Bancorp DE now owns 1,708 shares of the company’s stock valued at $42,000 after acquiring an additional 479 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of PagerDuty by 5.7% in the 1st quarter. Teacher Retirement System of Texas now owns 13,844 shares of the company’s stock valued at $473,000 after acquiring an additional 748 shares during the period. 92.58% of the stock is owned by hedge funds and other institutional investors.

About PagerDuty

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PagerDuty, Inc operates a digital operations management platform in the United States, Japan, 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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Analyst Recommendations for PagerDuty (NYSE:PD)

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