PagerDuty (NYSE:PD) Reaches New 1-Year Low After Analyst Downgrade

PagerDuty, Inc. (NYSE:PD)’s share price reached a new 52-week low on Friday after Truist Financial lowered their price target on the stock from $26.00 to $23.00. Truist Financial currently has a buy rating on the stock. PagerDuty traded as low as $13.94 and last traded at $14.18, with a volume of 417233 shares changing hands. The stock had previously closed at $16.10.

A number of other research analysts have also weighed in on PD. JPMorgan Chase & Co. reduced their target price on PagerDuty from $21.00 to $18.00 and set an “underweight” rating for the company in a report on Friday. Canaccord Genuity Group cut their price target on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday, March 14th. Royal Bank of Canada lowered their target price on shares of PagerDuty from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday. TD Securities reduced their target price on PagerDuty from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group lowered their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PagerDuty currently has a consensus rating of “Hold” and a consensus target price of $19.67.

Hedge Funds Weigh In On PagerDuty

A number of hedge funds have recently modified their holdings of PD. Headlands Technologies LLC increased its holdings in PagerDuty by 2,235.6% in the 1st quarter. Headlands Technologies LLC now owns 1,378 shares of the company’s stock valued at $25,000 after acquiring an additional 1,319 shares during the last quarter. KBC Group NV purchased a new position in shares of PagerDuty during the first quarter valued at about $33,000. Summit Securities Group LLC bought a new stake in shares of PagerDuty in the first quarter worth about $33,000. Venturi Wealth Management LLC purchased a new stake in shares of PagerDuty in the fourth quarter worth about $43,000. Finally, Picton Mahoney Asset Management bought a new position in PagerDuty during the fourth quarter valued at approximately $58,000. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Price Performance

The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a fifty day simple moving average of $16.04 and a two-hundred day simple moving average of $17.88. The firm has a market cap of $1.31 billion, a PE ratio of -17.94 and a beta of 0.99.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $119.81 million for the quarter, compared to the consensus estimate of $118.98 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. Equities analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its board has authorized a stock repurchase program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

About PagerDuty

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.