PagerDuty, Inc. (NYSE:PD) Receives $20.55 Consensus Price Target from Brokerages

Shares of PagerDuty, Inc. (NYSE:PD) have been given an average recommendation of “Hold” by the eleven research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $20.55.

PD has been the subject of a number of analyst reports. Truist Financial reduced their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group reduced their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Morgan Stanley dropped their price target on shares of PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group cut their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th.

PagerDuty Stock Performance

Shares of PD stock opened at $16.87 on Wednesday. The company’s fifty day moving average price is $16.51 and its 200-day moving average price is $18.11. The stock has a market cap of $1.54 billion, a PE ratio of -21.09 and a beta of 0.99. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty has a 12 month low of $14.30 and a 12 month high of $23.12.

PagerDuty (NYSE:PD) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business had revenue of $121.45 million for the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has authorized a share buyback plan on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On PagerDuty

Large investors have recently added to or reduced their stakes in the stock. AMI Asset Management Corp grew its holdings in shares of PagerDuty by 154.2% in the fourth quarter. AMI Asset Management Corp now owns 56,156 shares of the company’s stock worth $1,025,000 after acquiring an additional 34,063 shares during the period. Franklin Resources Inc. grew its stake in shares of PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after purchasing an additional 1,701 shares during the period. Bank of New York Mellon Corp increased its position in shares of PagerDuty by 12.4% during the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock valued at $16,531,000 after purchasing an additional 100,207 shares during the last quarter. Northern Trust Corp lifted its stake in shares of PagerDuty by 4.0% in the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company’s stock worth $16,563,000 after purchasing an additional 35,026 shares during the period. Finally, Barclays PLC lifted its stake in shares of PagerDuty by 24.2% in the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after purchasing an additional 175,733 shares during the period. Institutional investors 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.