PagerDuty (NYSE:PD) PT Lowered to $18.00 at Robert W. Baird

PagerDuty (NYSE:PD) had its target price trimmed by Robert W. Baird from $22.00 to $18.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

PD has been the subject of a number of other reports. Scotiabank started coverage on PagerDuty in a report on Friday, June 28th. They issued a sector perform rating and a $23.00 price target for the company. The Goldman Sachs Group started coverage on PagerDuty in a research note on Thursday, July 18th. They issued a neutral rating and a $24.00 price target on the stock. Morgan Stanley reduced their price objective on shares of PagerDuty from $24.00 to $19.00 and set an equal weight rating on the stock in a research note on Wednesday. Bank of America decreased their target price on PagerDuty from $28.00 to $23.00 and set a buy rating for the company in a research note on Wednesday. Finally, Craig Hallum raised shares of PagerDuty from a hold rating to a buy rating and increased their price objective for the stock from $21.00 to $30.00 in a research report on Wednesday, June 12th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $21.91.

PagerDuty Price Performance

Shares of PD stock opened at $17.78 on Wednesday. The company has a market capitalization of $1.70 billion, a P/E 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 stock has a 50 day moving average of $20.08 and a two-hundred day moving average of $21.01. 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 released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share 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 for the quarter, compared to analyst estimates of $116.52 million. During the same period in the prior year, the company posted ($0.18) EPS. The company’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that PagerDuty will post -0.44 EPS for the current year.

Insider Activity

In related news, CEO Jennifer Tejada sold 31,250 shares of PagerDuty stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total transaction of $658,437.50. Following the completion of the transaction, the chief executive officer now owns 1,023,579 shares in the company, valued at $21,566,809.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jennifer Tejada sold 31,250 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $21.07, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shelley Webb sold 5,732 shares of PagerDuty stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $21.98, for a total value of $125,989.36. Following the sale, the insider now directly owns 235,657 shares of the company’s stock, valued at $5,179,740.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,244 shares of company stock valued at $2,316,980. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quarry LP boosted its position in shares of PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after acquiring an additional 1,322 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of PagerDuty by 28.0% during the second quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after purchasing an additional 508 shares in the last quarter. Fred Alger Management LLC grew its holdings in PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after acquiring an additional 1,578 shares during the last quarter. Cambridge Trust Co. bought a new stake in shares of PagerDuty in the first quarter worth $68,000. Finally, Headlands Technologies LLC bought a new position in shares of PagerDuty during the second quarter worth about $114,000. Institutional investors own 97.26% of the company’s stock.

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.