PagerDuty (NYSE:PD) Now Covered by Scotiabank

Scotiabank initiated coverage on shares of PagerDuty (NYSE:PD) in a report issued on Friday, MarketBeat.com reports. The brokerage issued a sector perform rating and a $23.00 price target on the stock.

PD has been the topic of several other reports. Craig Hallum upgraded PagerDuty from a hold rating to a buy rating and boosted their target price for the stock from $21.00 to $30.00 in a research note on Wednesday, June 12th. Canaccord Genuity Group reduced their price objective on PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a research note on Friday, May 31st. Truist Financial upgraded shares of PagerDuty from a hold rating to a buy rating and boosted their target price for the company from $25.00 to $30.00 in a research note on Monday, March 18th. JPMorgan Chase & Co. began coverage on PagerDuty in a research report on Thursday, June 27th. They set a neutral rating and a $24.00 price target on the stock. Finally, Robert W. Baird reduced their price objective on shares of PagerDuty from $25.00 to $22.00 and set a neutral rating for the company in a research report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $26.90.

PagerDuty Price Performance

Shares of PD stock opened at $22.77 on Friday. PagerDuty has a twelve month low of $17.92 and a twelve month high of $26.70. The stock has a fifty day simple moving average of $20.55 and a two-hundred day simple moving average of $22.40. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -22.54 and a beta of 1.00. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, May 30th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The company had revenue of $111.17 million during the quarter, compared to analyst estimates of $111.74 million. On average, analysts predict that PagerDuty will post -0.45 EPS for the current fiscal year.

Insider Activity

In other PagerDuty news, insider Shelley Webb sold 6,859 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the sale, the insider now owns 253,439 shares of the company’s stock, valued at $5,674,499.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

A number of hedge funds have recently made changes to their positions in PD. Cambridge Trust Co. acquired a new stake in PagerDuty during the 1st quarter worth approximately $68,000. Washington Harbour Partners LP increased its stake in PagerDuty by 4.5% in the first quarter. Washington Harbour Partners LP now owns 185,301 shares of the company’s stock valued at $4,203,000 after purchasing an additional 7,900 shares during the last quarter. Grandeur Peak Global Advisors LLC grew its position in shares of PagerDuty by 8.5% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 528,842 shares of the company’s stock valued at $11,994,000 after buying an additional 41,580 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of PagerDuty by 1.9% during the first quarter. Janus Henderson Group PLC now owns 3,450,388 shares of the company’s stock worth $78,254,000 after purchasing an additional 64,359 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in PagerDuty by 8.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 273,184 shares of the company’s stock worth $6,191,000 after buying an additional 21,017 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.