PagerDuty (NYSE:PD) PT Lowered to $19.00 at TD Cowen

PagerDuty (NYSE:PD) had its price target lowered by TD Cowen from $23.00 to $19.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts also recently weighed in on PD. Royal Bank of Canada decreased their target price on shares of PagerDuty from $27.00 to $22.00 and set an outperform rating for the company in a research note on Wednesday. Bank of America cut their price target on shares of PagerDuty from $28.00 to $23.00 and set a buy rating on the stock in a report on Wednesday. Scotiabank cut their price target on shares of PagerDuty from $23.00 to $18.00 and set a sector perform rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of PagerDuty from $24.00 to $21.00 and set a neutral rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of PagerDuty in a report on Thursday, June 27th. They set a neutral rating and a $24.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $21.91.

PagerDuty Stock Performance

PagerDuty stock opened at $17.78 on Wednesday. PagerDuty has a 1-year low of $16.46 and a 1-year high of $26.70. The firm has a 50-day moving average of $20.18 and a 200-day moving average of $21.07. The firm has a market cap of $1.70 billion, a P/E ratio of -17.60 and a beta of 1.05. 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 announced its earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative net margin of 21.34% and a negative return on equity of 28.38%. The business had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts expect that PagerDuty will post -0.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $21.98, for a total value of $125,989.36. Following the sale, the insider now owns 235,657 shares in the company, valued at $5,179,740.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $21.98, for a total value of $125,989.36. Following the sale, the insider now owns 235,657 shares in the company, valued at $5,179,740.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Tejada sold 31,250 shares of PagerDuty stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total transaction of $658,437.50. Following the transaction, the chief executive officer now owns 1,023,579 shares in the company, valued at approximately $21,566,809.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of PagerDuty during the 4th quarter worth $4,630,000. Massachusetts Financial Services Co. MA raised its position in shares of PagerDuty by 50.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock valued at $50,011,000 after purchasing an additional 728,152 shares during the period. Natixis Advisors L.P. raised its position in shares of PagerDuty by 13.9% during the 4th quarter. Natixis Advisors L.P. now owns 13,541 shares of the company’s stock valued at $313,000 after purchasing an additional 1,650 shares during the period. Optimus Prime Fund Management Co. Ltd. raised its position in shares of PagerDuty by 13.9% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 655,000 shares of the company’s stock valued at $15,163,000 after purchasing an additional 80,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of PagerDuty by 65.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock valued at $52,911,000 after purchasing an additional 904,136 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.