The Goldman Sachs Group Lowers PagerDuty (NYSE:PD) Price Target to $18.00

PagerDuty (NYSE:PD) had its target price decreased by The Goldman Sachs Group from $21.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

PD has been the subject of several other research reports. Canaccord Genuity Group decreased their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday. Truist Financial decreased their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada decreased their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Finally, Bank of America cut 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 research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.73.

PagerDuty Stock Up 17.9 %

Shares of PD stock opened at $18.41 on Friday. PagerDuty has a 1 year low of $15.49 and a 1 year high of $23.85. The stock has a market cap of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. The business’s fifty day moving average is $18.24 and its 200-day moving average is $18.69. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $121.45 million for the quarter, compared to analysts’ expectations of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. Equities analysts expect that PagerDuty will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its board has initiated a share repurchase plan on Thursday, March 13th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,048 shares of company stock valued at $186,699. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

Several institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its holdings in PagerDuty by 516.5% during the fourth quarter. Mackenzie Financial Corp now owns 111,356 shares of the company’s stock valued at $2,033,000 after buying an additional 93,294 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PagerDuty by 7.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 233,679 shares of the company’s stock worth $4,267,000 after purchasing an additional 15,221 shares during the period. Two Sigma Advisers LP bought a new position in shares of PagerDuty in the fourth quarter worth about $6,734,000. Two Sigma Investments LP increased its stake in shares of PagerDuty by 1,222.8% in the fourth quarter. Two Sigma Investments LP now owns 431,252 shares of the company’s stock worth $7,875,000 after purchasing an additional 398,650 shares during the period. Finally, State of Wyoming increased its stake in shares of PagerDuty by 49.6% in the fourth quarter. State of Wyoming now owns 22,271 shares of the company’s stock worth $407,000 after purchasing an additional 7,385 shares during the period. 97.26% of the stock is currently owned by 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.