Pagerduty (NYSE:PD) Upgraded to Outperform at Royal Bank of Canada

Pagerduty (NYSE:PD) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday, The Fly reports.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Pagerduty from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, June 7th. Zacks Investment Research cut Pagerduty from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Raymond James reiterated a “buy” rating and set a $4.75 price objective on shares of Pagerduty in a report on Friday, July 26th. William Blair initiated coverage on Pagerduty in a report on Monday, May 6th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, BTIG Research initiated coverage on Pagerduty in a report on Monday, May 6th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $42.46.

Shares of PD opened at $36.20 on Wednesday. Pagerduty has a 1 year low of $34.75 and a 1 year high of $59.82. The stock’s 50-day moving average is $44.86.

Pagerduty (NYSE:PD) last issued its earnings results on Thursday, June 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. The company had revenue of $25.00 million for the quarter, compared to the consensus estimate of $34.92 million. During the same quarter last year, the business posted $37.30 EPS. On average, sell-side analysts expect that Pagerduty will post -0.37 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in shares of Pagerduty during the 2nd quarter valued at $30,808,000. BlackRock Inc. bought a new stake in shares of Pagerduty during the 2nd quarter valued at $29,470,000. Carillon Tower Advisers Inc. bought a new stake in shares of Pagerduty during the 2nd quarter valued at $13,032,000. Laurion Capital Management LP bought a new stake in shares of Pagerduty during the 2nd quarter valued at $3,294,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Pagerduty during the 2nd quarter valued at $2,501,000. 0.18% of the stock is currently owned by institutional investors and hedge funds.

About Pagerduty

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.

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