Royal Bank of Canada Forecasts Strong Price Appreciation for PagerDuty (NYSE:PD) Stock

PagerDuty (NYSE:PD) had its price objective increased by Royal Bank of Canada from $22.00 to $24.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PD has been the subject of a number of other research reports. Scotiabank decreased their price target on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. Morgan Stanley lowered their target price on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Canaccord Genuity Group cut their price target on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Robert W. Baird lowered their price objective on PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, Bank of America dropped their target price on PagerDuty from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, PagerDuty has a consensus rating of “Hold” and an average price target of $22.00.

PagerDuty Trading Up 1.1 %

PD opened at $21.24 on Wednesday. The company has a fifty day moving average price of $18.87 and a two-hundred day moving average price of $19.61. PagerDuty has a 1-year low of $16.46 and a 1-year high of $26.70. The company has a market cap of $1.98 billion, a P/E ratio of -26.55 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 issued its earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 20.13% and a negative net margin of 16.29%. The business had revenue of $115.94 million during the quarter, compared to analyst estimates of $116.52 million. During the same period in the previous year, the company posted ($0.18) EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. Analysts predict that PagerDuty will post -0.37 EPS for the current fiscal year.

Insider Activity at PagerDuty

In related news, CAO Mitra Rezvan sold 2,942 shares of PagerDuty stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total value of $53,132.52. Following the completion of the sale, the chief accounting officer now owns 108,449 shares of the company’s stock, valued at approximately $1,958,588.94. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Tejada sold 18,750 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $20.04, for a total transaction of $375,750.00. Following the sale, the chief executive officer now directly owns 907,631 shares in the company, valued at approximately $18,188,925.24. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,396 shares of company stock worth $1,733,561. 7.60% of the stock is owned by company insiders.

Institutional Trading of PagerDuty

Hedge funds and other institutional investors have recently modified their holdings of the business. ARK Investment Management LLC grew its stake in PagerDuty by 12.5% in the 2nd quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock valued at $243,156,000 after buying an additional 1,180,202 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PagerDuty by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,631,790 shares of the company’s stock valued at $218,449,000 after purchasing an additional 33,454 shares in the last quarter. RGM Capital LLC raised its stake in shares of PagerDuty by 1.3% during the 3rd quarter. RGM Capital LLC now owns 4,564,296 shares of the company’s stock valued at $84,668,000 after purchasing an additional 59,902 shares during the period. Geode Capital Management LLC lifted its holdings in PagerDuty by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock worth $39,915,000 after purchasing an additional 37,147 shares in the last quarter. Finally, Barclays PLC boosted its stake in PagerDuty by 24.2% in the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after purchasing an additional 175,733 shares during the period. 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.