PagerDuty (NYSE:PD) Updates Q2 2023 Earnings Guidance

PagerDuty (NYSE:PDGet Rating) updated its second quarter 2023 earnings guidance on Thursday. The company provided earnings per share guidance of -$0.09–$0.08 for the period, compared to the consensus earnings per share estimate of -$0.08. The company issued revenue guidance of $87.00 million-$89.00 million, compared to the consensus revenue estimate of $87.20 million. PagerDuty also updated its FY 2023 guidance to -$0.21–$0.17 EPS.

Shares of PD opened at $25.50 on Thursday. The firm has a market capitalization of $2.24 billion, a PE ratio of -18.48 and a beta of 1.22. The company’s 50-day moving average is $26.67 and its 200-day moving average is $30.70. PagerDuty has a fifty-two week low of $21.72 and a fifty-two week high of $50.33. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.54 and a quick ratio of 2.54.

PagerDuty (NYSE:PDGet Rating) last issued its quarterly earnings data on Thursday, June 2nd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. The company had revenue of $85.37 million for the quarter, compared to analyst estimates of $82.67 million. PagerDuty had a negative net margin of 38.83% and a negative return on equity of 41.92%. The company’s revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.27) earnings per share. Analysts predict that PagerDuty will post -1.25 earnings per share for the current fiscal year.

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of PagerDuty from $49.00 to $32.00 and set an equal weight rating on the stock in a research note on Thursday, May 19th. Craig Hallum decreased their price target on shares of PagerDuty from $45.00 to $37.00 and set a buy rating on the stock in a research note on Friday, June 3rd. Cowen decreased their price target on shares of PagerDuty to $40.00 in a research note on Friday, May 27th. Royal Bank of Canada decreased their price target on shares of PagerDuty from $46.00 to $41.00 in a research note on Tuesday, May 31st. Finally, Monness Crespi & Hardt decreased their price target on shares of PagerDuty to $35.00 in a research note on Thursday, May 26th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $47.38.

In other PagerDuty news, CEO Jennifer Tejada sold 68,182 shares of the firm’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $31.17, for a total transaction of $2,125,232.94. Following the completion of the transaction, the chief executive officer now owns 897,974 shares in the company, valued at approximately $27,989,849.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Dave Justice sold 1,737 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $34.97, for a total transaction of $60,742.89. Following the transaction, the executive now owns 298,427 shares of the company’s stock, valued at approximately $10,435,992.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,992 shares of company stock valued at $4,384,807. 8.70% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in PD. Goldman Sachs Group Inc. increased its stake in shares of PagerDuty by 47.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,099,664 shares of the company’s stock valued at $37,598,000 after acquiring an additional 353,682 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of PagerDuty in the 1st quarter valued at $8,527,000. JPMorgan Chase & Co. increased its stake in shares of PagerDuty by 102.5% in the 1st quarter. JPMorgan Chase & Co. now owns 263,244 shares of the company’s stock valued at $9,000,000 after acquiring an additional 133,253 shares in the last quarter. Vanguard Group Inc. grew its position in PagerDuty by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 6,783,833 shares of the company’s stock valued at $231,939,000 after purchasing an additional 80,474 shares during the period. Finally, Prudential Financial Inc. grew its position in PagerDuty by 866.6% in the 1st quarter. Prudential Financial Inc. now owns 60,123 shares of the company’s stock valued at $2,055,000 after purchasing an additional 53,903 shares during the period. Institutional investors own 89.33% of the company’s stock.

About PagerDuty (Get Rating)

PagerDuty, Inc operates a digital operations management platform in the United States, Japan, and internationally. Its digital operations management platform collects data digital signals from virtually any software-enabled system or device, and leverage powerful machine learning to correlate, process, and predict opportunities and issues.

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