Share Repurchase Plan Announced by PagerDuty (NYSE:PD)

PagerDuty (NYSE:PD) declared that its Board of Directors has authorized a share buyback plan on Thursday, March 13th, RTT News reports. The company plans to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PD. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and cut their price objective for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. Truist Financial cut their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada dropped their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Finally, Canaccord Genuity Group dropped their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.73.

PagerDuty Stock Performance

PagerDuty stock opened at $18.41 on Friday. The company has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. PagerDuty has a fifty-two week low of $15.49 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The company has a 50 day moving average price of $18.24 and a 200-day moving average price of $18.68.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. PagerDuty’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. As a group, equities analysts forecast that PagerDuty will post -0.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shelley Webb sold 7,879 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the sale, the insider now directly owns 199,122 shares of the company’s stock, valued at $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,048 shares of company stock valued at $186,699. 7.60% of the stock is currently owned by insiders.

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.