PagerDuty (NYSE:PD) Now Covered by JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of PagerDuty (NYSE:PD) in a research report issued on Thursday, Marketbeat reports. The brokerage set a “neutral” rating and a $24.00 price target on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 4.67% from the stock’s previous close.

Several other brokerages also recently issued reports on PD. Craig Hallum upgraded PagerDuty from a “hold” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $30.00 in a research report on Wednesday, June 12th. Canaccord Genuity Group cut their price objective on PagerDuty from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Robert W. Baird cut their price objective on PagerDuty from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, Truist Financial upgraded PagerDuty from a “hold” rating to a “buy” rating and lifted their price objective for the company from $25.00 to $30.00 in a research report on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.90.

PagerDuty Price Performance

Shares of PD stock opened at $22.93 on Thursday. The stock’s fifty day simple moving average is $20.50 and its 200 day simple moving average is $22.40. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.59 and a quick ratio of 2.59. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -22.70 and a beta of 1.00. PagerDuty has a one year low of $17.92 and a one year high of $26.70.

PagerDuty (NYSE:PD) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The business had revenue of $111.17 million for the quarter, compared to analyst estimates of $111.74 million. On average, analysts expect that PagerDuty will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at PagerDuty

In related news, insider Shelley Webb sold 6,859 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.39, for a total value of $153,573.01. Following the completion of the sale, the insider now owns 253,439 shares in the company, valued at $5,674,499.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Mitra Rezvan sold 2,215 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total value of $47,888.30. Following the completion of the sale, the chief accounting officer now owns 119,452 shares in the company, valued at $2,582,552.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelley Webb sold 6,859 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $22.39, for a total value of $153,573.01. Following the completion of the sale, the insider now owns 253,439 shares of the company’s stock, valued at approximately $5,674,499.21. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PagerDuty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC grew its stake in PagerDuty by 100.0% in the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares during the period. Cambridge Trust Co. acquired a new position in PagerDuty in the first quarter valued at about $68,000. Resolute Advisors LLC acquired a new position in PagerDuty in the fourth quarter valued at about $142,000. a16z Perennial Management L.P. acquired a new position in PagerDuty in the fourth quarter valued at about $148,000. Finally, Neo Ivy Capital Management acquired a new position in PagerDuty in the fourth quarter valued at about $171,000. 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.