Traders Buy High Volume of Call Options on Pagerduty (NYSE:PD)

Pagerduty Inc (NYSE:PD) saw unusually large options trading on Thursday. Stock investors bought 3,491 call options on the company. This represents an increase of approximately 1,296% compared to the average volume of 250 call options.

NYSE PD opened at $31.35 on Friday. The firm’s 50 day moving average price is $37.54. Pagerduty has a 52 week low of $26.98 and a 52 week high of $59.82.

Pagerduty (NYSE:PD) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.12. The company had revenue of $40.40 million for the quarter, compared to the consensus estimate of $39.12 million. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, sell-side analysts expect that Pagerduty will post -0.75 EPS for the current year.

A number of research analysts recently commented on PD shares. Morgan Stanley decreased their price target on Pagerduty from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, September 6th. Raymond James reaffirmed a “buy” rating and issued a $4.75 price objective on shares of Pagerduty in a research note on Friday, July 26th. DA Davidson began coverage on Pagerduty in a research note on Friday, August 16th. They set a “neutral” rating and a $36.00 price target on the stock. KeyCorp reaffirmed a “hold” rating on shares of Pagerduty in a research note on Friday, September 6th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Pagerduty in a research note on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Pagerduty presently has an average rating of “Buy” and an average target price of $36.14.

Hedge funds have recently bought and sold shares of the business. Carillon Tower Advisers Inc. purchased a new position in shares of Pagerduty during the 2nd quarter valued at $13,032,000. Jennison Associates LLC bought a new stake in shares of Pagerduty during the 2nd quarter valued at $248,000. Flagship Harbor Advisors LLC bought a new stake in shares of Pagerduty during the 2nd quarter valued at $157,000. Stevens Capital Management LP bought a new stake in shares of Pagerduty during the 2nd quarter valued at $226,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Pagerduty during the 2nd quarter valued at $236,000. 49.47% of the stock is currently owned by institutional investors and hedge funds.

Pagerduty Company Profile

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

Further Reading: How interest rates affect municipal bond prices

Receive News & Ratings for Pagerduty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pagerduty and related companies with MarketBeat.com's FREE daily email newsletter.