Scotiabank Trims PagerDuty (NYSE:PD) Target Price to $18.00

PagerDuty (NYSE:PD) had its price target reduced by stock analysts at Scotiabank from $23.00 to $18.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective would suggest a potential downside of 1.48% from the stock’s current price.

Several other research firms also recently commented on PD. The Goldman Sachs Group started coverage on shares of PagerDuty in a research note on Thursday, July 18th. They issued a “neutral” rating and a $24.00 price target on the stock. Robert W. Baird reduced their price target on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. started coverage on shares of PagerDuty in a research note on Thursday, June 27th. They issued a “neutral” rating and a $24.00 price target on the stock. Morgan Stanley reduced their price target on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group cut their target price on shares of PagerDuty from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PagerDuty presently has a consensus rating of “Hold” and a consensus price target of $23.82.

PagerDuty Price Performance

PagerDuty stock opened at $18.27 on Wednesday. The firm has a 50-day moving average price of $20.35 and a 200-day moving average price of $21.11. The firm has a market capitalization of $1.75 billion, a PE ratio of -18.09 and a beta of 1.07. 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 has a 12-month low of $17.92 and a 12-month high of $26.70.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative net margin of 21.34% and a negative return on equity of 28.38%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) EPS. As a group, equities research analysts forecast that PagerDuty will post -0.44 EPS for the current year.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total value of $44,000.00. Following the sale, the chief executive officer now directly owns 1,015,637 shares in the company, valued at approximately $22,344,014. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jennifer Tejada sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total value of $44,000.00. Following the sale, the chief executive officer now directly owns 1,015,637 shares in the company, valued at approximately $22,344,014. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $21.98, for a total transaction of $125,989.36. Following the completion of 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. In the last quarter, insiders have sold 110,244 shares of company stock valued at $2,316,980. Company insiders own 7.60% of the company’s stock.

Institutional Trading of PagerDuty

A number of institutional investors have recently bought and sold shares of PD. New York State Common Retirement Fund boosted its stake in PagerDuty by 1.5% in the 4th quarter. New York State Common Retirement Fund now owns 36,356 shares of the company’s stock worth $842,000 after purchasing an additional 532 shares in the last quarter. Natixis Advisors L.P. boosted its stake in PagerDuty by 13.9% in the 4th quarter. Natixis Advisors L.P. now owns 13,541 shares of the company’s stock worth $313,000 after purchasing an additional 1,650 shares in the last quarter. M&T Bank Corp boosted its stake in PagerDuty by 64.7% in the 4th quarter. M&T Bank Corp now owns 92,207 shares of the company’s stock worth $2,135,000 after purchasing an additional 36,220 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in PagerDuty by 12.8% in the 4th quarter. Axxcess Wealth Management LLC now owns 10,354 shares of the company’s stock worth $240,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in PagerDuty during the 4th quarter valued at approximately $319,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.