PagerDuty (NYSE:PD) to Repurchase $100.00 million in Stock

PagerDuty (NYSE:PD) declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 28th, RTT News reports. The company plans to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 16.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

PagerDuty Price Performance

NYSE PD traded up $0.24 during trading hours on Thursday, reaching $7.43. 2,799,985 shares of the company’s stock were exchanged, compared to its average volume of 1,640,162. The stock has a market cap of $631.48 million, a PE ratio of 4.04, a price-to-earnings-growth ratio of 3.19 and a beta of 0.78. PagerDuty has a one year low of $5.70 and a one year high of $18.00. The firm has a fifty day moving average of $6.66 and a 200-day moving average of $9.43. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 1.56.

PagerDuty (NYSE:PD) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. The business had revenue of $120.97 million for the quarter, compared to analyst estimates of $119.52 million. PagerDuty had a return on equity of 16.29% and a net margin of 35.30%.PagerDuty’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 EPS. PagerDuty has set its Q2 2027 guidance at 0.290-0.310 EPS. On average, equities research analysts predict that PagerDuty will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PD. Weiss Ratings restated a “sell (d)” rating on shares of PagerDuty in a research note on Friday, May 22nd. Royal Bank Of Canada lowered their price target on PagerDuty from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Friday, March 13th. Canaccord Genuity Group lowered their price objective on PagerDuty from $19.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Truist Financial lowered their price objective on PagerDuty from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, Morgan Stanley set a $9.00 price objective on PagerDuty in a research note on Thursday, February 19th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, PagerDuty currently has a consensus rating of “Hold” and a consensus target price of $11.78.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.