Brokerages Set PagerDuty, Inc. (NYSE:PD) Price Target at $19.50

Shares of PagerDuty, Inc. (NYSE:PD) have received a consensus recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $19.50.

A number of research firms have recently commented on PD. Royal Bank of Canada cut their target price on shares of PagerDuty from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. The Goldman Sachs Group cut their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. cut their target price on shares of PagerDuty from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, May 30th. Truist Financial cut their target price on shares of PagerDuty from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Finally, Morgan Stanley cut their target price on shares of PagerDuty from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th.

PagerDuty Price Performance

NYSE PD opened at $15.88 on Friday. The company has a market cap of $1.45 billion, a PE ratio of -19.85 and a beta of 0.88. PagerDuty has a 52-week low of $13.94 and a 52-week high of $23.12. 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’s 50 day moving average price is $15.62 and its 200-day moving average price is $17.68.

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

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

Hedge Funds Weigh In On PagerDuty

Several large investors have recently made changes to their positions in PD. Headlands Technologies LLC boosted its holdings in shares of PagerDuty by 2,235.6% in the first quarter. Headlands Technologies LLC now owns 1,378 shares of the company’s stock worth $25,000 after buying an additional 1,319 shares during the period. Summit Securities Group LLC acquired a new position in shares of PagerDuty in the first quarter worth about $33,000. KBC Group NV acquired a new stake in shares of PagerDuty during the first quarter worth approximately $33,000. Venturi Wealth Management LLC acquired a new stake in shares of PagerDuty during the fourth quarter worth approximately $43,000. Finally, Picton Mahoney Asset Management acquired a new stake in shares of PagerDuty during the fourth quarter worth approximately $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.