PagerDuty (NYSE:PD) Issues Earnings Results, Beats Estimates By $0.06 EPS

PagerDuty (NYSE:PD) issued its earnings results on Thursday. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. 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 the consensus estimate of $119.53 million. During the same period in the previous year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis.

PagerDuty Price Performance

Shares of PD stock traded up $2.80 on Friday, reaching $18.41. The company had a trading volume of 4,364,395 shares, compared to its average volume of 1,046,966. The stock has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty has a one year low of $15.49 and a one year high of $23.85. The business’s 50-day moving average is $18.24 and its 200 day moving average is $18.69.

PagerDuty declared that its board has approved a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at PagerDuty

In other news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares of the company’s stock, valued at $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the transaction, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at $17,366,220. This represents a 0.18 % decrease in their position. 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. 7.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on PD. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Canaccord Genuity Group reduced their target price on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday. The Goldman Sachs Group reduced their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Truist Financial reduced their target price on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, PagerDuty has an average rating of “Hold” and an average price target of $20.73.

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.