PagerDuty (NYSE:PD) Price Target Cut to $22.00 by Analysts at Royal Bank of Canada

PagerDuty (NYSE:PD) had its price target decreased by Royal Bank of Canada from $27.00 to $22.00 in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group started coverage on PagerDuty in a research report on Thursday, July 18th. They set a neutral rating and a $24.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of PagerDuty in a report on Thursday, June 27th. They issued a neutral rating and a $24.00 target price on the stock. Canaccord Genuity Group decreased their price target on shares of PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a research note on Friday, May 31st. Bank of America dropped their price objective on shares of PagerDuty from $28.00 to $23.00 and set a buy rating on the stock in a research note on Wednesday. Finally, Craig Hallum decreased their target price on shares of PagerDuty from $30.00 to $26.00 and set a buy rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $21.91.

PagerDuty Trading Down 4.5 %

Shares of PagerDuty stock opened at $17.78 on Wednesday. The company has a fifty day simple moving average of $20.08 and a 200-day simple moving average of $21.01. PagerDuty has a 12-month low of $16.46 and a 12-month high of $26.70. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -17.60 and a beta of 1.05.

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, topping the consensus estimate of $0.17 by $0.04. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The company had revenue of $115.94 million for the quarter, compared to analyst estimates of $116.52 million. During the same quarter last year, the company posted ($0.18) earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that PagerDuty will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other PagerDuty news, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $20.09, for a total value of $376,687.50. Following the sale, the chief executive officer now owns 1,010,861 shares of the company’s stock, valued at approximately $20,308,197.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PagerDuty news, CEO Jennifer Tejada sold 18,750 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the transaction, the chief executive officer now owns 1,010,861 shares in the company, valued at $20,308,197.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shelley Webb sold 5,732 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $21.98, for a total transaction of $125,989.36. Following the sale, the insider now owns 235,657 shares in the company, valued at $5,179,740.86. The disclosure for this sale can be found here. Insiders sold 110,244 shares of company stock valued at $2,316,980 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its holdings in shares of PagerDuty by 12.5% in the 2nd quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock worth $243,156,000 after acquiring an additional 1,180,202 shares during the period. Vanguard Group Inc. boosted its position in PagerDuty by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,631,790 shares of the company’s stock worth $218,449,000 after purchasing an additional 33,454 shares in the last quarter. RGM Capital LLC grew its holdings in PagerDuty by 3.3% in the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock valued at $103,286,000 after purchasing an additional 143,701 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of PagerDuty by 1.9% in the first quarter. Janus Henderson Group PLC now owns 3,450,388 shares of the company’s stock valued at $78,254,000 after buying an additional 64,359 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of PagerDuty by 65.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock valued at $52,911,000 after buying an additional 904,136 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other 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.