PagerDuty (NYSE:PD) Price Target Lowered to $21.00 at Canaccord Genuity Group

PagerDuty (NYSE:PD) had its price target reduced by equities researchers at Canaccord Genuity Group from $23.00 to $21.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 40.61% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of PagerDuty from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Morgan Stanley dropped their price objective on shares of PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of PagerDuty from $21.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, May 30th. TD Securities dropped their price objective on shares of PagerDuty from $19.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, May 21st. Finally, Truist Financial dropped their price objective on shares of PagerDuty from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.50.

PagerDuty Trading Up 4.4%

Shares of NYSE PD opened at $14.94 on Monday. The company’s fifty day moving average is $15.86 and its 200-day moving average is $17.80. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -18.67 and a beta of 0.99. PagerDuty has a twelve month low of $13.94 and a twelve month high of $23.12. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

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

PagerDuty declared that its board has authorized a share repurchase plan on Thursday, March 13th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PD. Headlands Technologies LLC grew its position in PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company’s stock valued at $25,000 after purchasing an additional 1,319 shares in the last quarter. KBC Group NV bought a new position in PagerDuty in the first quarter valued at $33,000. Summit Securities Group LLC bought a new position in PagerDuty in the first quarter valued at $33,000. Venturi Wealth Management LLC bought a new position in PagerDuty in the fourth quarter valued at $43,000. Finally, Picton Mahoney Asset Management bought a new position in PagerDuty in the fourth quarter valued at $58,000. 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.