PagerDuty (NYSE:PD) Given New $24.00 Price Target at Royal Bank of Canada

PagerDuty (NYSE:PD) had its price objective hoisted by Royal Bank of Canada from $22.00 to $24.00 in a research note released on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on PD. JPMorgan Chase & Co. cut their price objective on shares of PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Scotiabank reduced their price objective on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 4th. The Goldman Sachs Group dropped their target price on PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Craig Hallum reduced their price target on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Robert W. Baird decreased their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.00.

PagerDuty Stock Up 0.5 %

NYSE PD opened at $21.01 on Wednesday. The stock has a 50 day moving average price of $18.75 and a 200-day moving average price of $19.60. PagerDuty has a one year low of $16.46 and a one year high of $26.70. The company has a market capitalization of $1.96 billion, a P/E ratio of -23.61 and a beta of 1.07. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.13 and a current ratio of 2.13.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 25.83% and a negative net margin of 18.58%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) earnings per share. As a group, equities analysts predict that PagerDuty will post -0.37 EPS for the current fiscal year.

Insider Activity

In related news, CAO Mitra Rezvan sold 2,942 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction of $53,132.52. Following the sale, the chief accounting officer now owns 108,449 shares of the company’s stock, valued at $1,958,588.94. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shelley Webb sold 6,246 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $18.12, for a total transaction of $113,177.52. Following the sale, the insider now directly owns 216,572 shares of the company’s stock, valued at approximately $3,924,284.64. The trade was a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,396 shares of company stock worth $1,733,561. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP boosted its position in shares of PagerDuty by 1,537.2% in the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after purchasing an additional 1,322 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in PagerDuty by 28.0% in the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after acquiring an additional 508 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of PagerDuty by 170.6% during the second 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. acquired a new position in shares of PagerDuty during the first quarter valued at about $68,000. Finally, Headlands Technologies LLC purchased a new position in shares of PagerDuty in the 2nd quarter valued at approximately $114,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

About PagerDuty

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.