PagerDuty (NYSE:PD) Price Target Lowered to $22.00 at Royal Bank of Canada

PagerDuty (NYSE:PD) had its target price cut by Royal Bank of Canada from $24.00 to $22.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and dropped their target price for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.73.

PagerDuty Stock Performance

PD stock opened at $18.41 on Friday. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50 day moving average price of $18.24 and a 200 day moving average price of $18.69. PagerDuty has a fifty-two week low of $15.49 and a fifty-two week high of $23.85. The stock has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The firm had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter in the previous year, the company posted $0.17 EPS. PagerDuty’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that PagerDuty will post -0.27 EPS for the current year.

PagerDuty announced that its board has approved a share buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at PagerDuty

In related news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the sale, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. This represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,048 shares of company stock worth $186,699 in the last quarter. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On PagerDuty

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PD. Venturi Wealth Management LLC acquired a new position in PagerDuty in the 4th quarter worth $43,000. Quarry LP boosted its stake in shares of PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after buying an additional 1,384 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of PagerDuty during the 4th quarter worth about $58,000. Fred Alger Management LLC boosted its stake in shares of PagerDuty by 63.7% during the 3rd quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock worth $76,000 after buying an additional 1,594 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PagerDuty during the 4th quarter worth about $130,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.