Pagerduty’s (NYSE:PD) quiet period will end on Tuesday, May 21st. Pagerduty had issued 9,070,000 shares in its public offering on April 11th. The total size of the offering was $217,680,000 based on an initial share price of $24.00. During Pagerduty’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of analysts recently weighed in on PD shares. JPMorgan Chase & Co. started coverage on Pagerduty in a research note on Monday, May 6th. They issued an “overweight” rating and a $55.00 price target on the stock. Royal Bank of Canada started coverage on Pagerduty in a research note on Monday, May 6th. They issued a “sector perform” rating and a $47.00 price target on the stock. William Blair started coverage on Pagerduty in a research note on Monday, May 6th. They issued an “outperform” rating and a $36.00 price target on the stock. Raymond James restated a “buy” rating and issued a $5.00 price target on shares of Pagerduty in a research note on Tuesday, March 19th. Finally, BTIG Research started coverage on Pagerduty in a research note on Monday, May 6th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Pagerduty presently has a consensus rating of “Buy” and an average target price of $40.33.
PD opened at $49.45 on Tuesday. Pagerduty has a one year low of $36.00 and a one year high of $52.13.
In other Pagerduty news, insider Dan Alexandru Solomon sold 342,000 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.32, for a total transaction of $7,633,440.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
PagerDuty, Inc operates a digital operations management platform. It provides incident management solution that integrates with information technology Ops and DevOps monitoring stacks to improve operational reliability and agility. The company was founded by Andrew Miklas, Baskar Puvanathasan, and Dan Alexandru Solomon in 2009 and is headquartered in San Francisco, CA.
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