PagerDuty (NYSE:PD) PT Lowered to $21.00 at The Goldman Sachs Group

PagerDuty (NYSE:PD) had its price target decreased by The Goldman Sachs Group from $24.00 to $21.00 in a research report released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

PD has been the subject of several other reports. Royal Bank of Canada lowered their target price on PagerDuty from $27.00 to $22.00 and set an outperform rating for the company in a research report on Wednesday. Robert W. Baird lowered their price objective on PagerDuty from $22.00 to $18.00 and set a neutral rating for the company in a research report on Wednesday. Morgan Stanley reduced their target price on PagerDuty from $24.00 to $19.00 and set an equal weight rating on the stock in a report on Wednesday. Bank of America lowered their price target on shares of PagerDuty from $28.00 to $23.00 and set a buy rating for the company in a report on Wednesday. Finally, Craig Hallum reduced their price objective on shares of PagerDuty from $30.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $21.91.

PagerDuty Price Performance

Shares of PD opened at $17.78 on Wednesday. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 2.58. The stock has a market cap of $1.70 billion, a PE ratio of -17.60 and a beta of 1.05. PagerDuty has a 12-month low of $16.46 and a 12-month high of $26.70. The business has a 50-day simple moving average of $20.08 and a two-hundred day simple moving average of $21.01.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The company had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts anticipate that PagerDuty will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PagerDuty news, insider Shelley Webb sold 5,732 shares of PagerDuty stock in a transaction 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 completion of the sale, the insider now directly owns 235,657 shares of the company’s stock, valued at $5,179,740.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other PagerDuty news, CEO Jennifer Tejada sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $22.00, for a total value of $44,000.00. Following the transaction, the chief executive officer now owns 1,015,637 shares in the company, valued at $22,344,014. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 235,657 shares of the company’s stock, valued at approximately $5,179,740.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PagerDuty

A number of large investors have recently modified their holdings of PD. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in PagerDuty during the 4th quarter valued at $4,630,000. Massachusetts Financial Services Co. MA increased its position in shares of PagerDuty by 50.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock worth $50,011,000 after acquiring an additional 728,152 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of PagerDuty by 13.9% during the fourth quarter. Natixis Advisors L.P. now owns 13,541 shares of the company’s stock worth $313,000 after acquiring an additional 1,650 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. raised its holdings in shares of PagerDuty by 13.9% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 655,000 shares of the company’s stock worth $15,163,000 after acquiring an additional 80,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in PagerDuty by 65.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock valued at $52,911,000 after acquiring an additional 904,136 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.

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.