PagerDuty (NYSE:PD) Shares Gap Up Following Analyst Upgrade

PagerDuty, Inc. (NYSE:PD) gapped up before the market opened on Wednesday after Royal Bank of Canada raised their price target on the stock from $22.00 to $24.00. The stock had previously closed at $20.91, but opened at $21.76. Royal Bank of Canada currently has an outperform rating on the stock. PagerDuty shares last traded at $20.88, with a volume of 116,763 shares.

Other analysts also recently issued reports about the company. Canaccord Genuity Group dropped their price objective on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Scotiabank dropped their target price on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target on shares of PagerDuty from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Morgan Stanley lowered their price objective on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America cut their target price on shares of PagerDuty from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Insider Activity

In related news, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $20.04, for a total value of $375,750.00. Following the sale, the chief executive officer now directly owns 907,631 shares in the company, valued at $18,188,925.24. This represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Howard Wilson sold 21,066 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.02, for a total transaction of $421,741.32. Following the transaction, the chief financial officer now owns 545,742 shares of the company’s stock, valued at approximately $10,925,754.84. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,396 shares of company stock valued at $1,733,561. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

Several hedge funds and other institutional investors have recently bought and sold shares of PD. Vanguard Group Inc. raised its position in shares of PagerDuty by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,631,790 shares of the company’s stock worth $218,449,000 after acquiring an additional 33,454 shares in the last quarter. Washington Harbour Partners LP increased its holdings in PagerDuty by 4.5% in the first quarter. Washington Harbour Partners LP now owns 185,301 shares of the company’s stock worth $4,203,000 after purchasing an additional 7,900 shares in the last quarter. Cambridge Trust Co. acquired a new position in PagerDuty in the first quarter valued at approximately $68,000. CWM LLC boosted its holdings in shares of PagerDuty by 7.2% during the 2nd quarter. CWM LLC now owns 12,982 shares of the company’s stock worth $298,000 after buying an additional 868 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in shares of PagerDuty during the 2nd quarter worth approximately $200,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Trading Down 3.3 %

The firm’s 50-day moving average price is $18.68 and its 200 day moving average price is $19.59. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -22.97 and a beta of 1.07. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38.

PagerDuty (NYSE:PD) last posted its quarterly earnings results 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. The firm had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.18) earnings per share. As a group, equities analysts expect that PagerDuty, Inc. will post -0.37 EPS for the current year.

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.