Truist Financial Lowers PagerDuty (NYSE:PD) Price Target to $26.00

PagerDuty (NYSE:PD) had its price objective reduced by Truist Financial from $30.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 44.10% from the stock’s current price.

Several other research firms have also commented on PD. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a report on Wednesday, December 11th. Bank of America downgraded PagerDuty from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Finally, Royal Bank of Canada lowered their price target on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday. Two investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.09.

PagerDuty Stock Up 15.6 %

PD traded up $2.43 during trading on Friday, hitting $18.04. The company had a trading volume of 1,674,648 shares, compared to its average volume of 990,541. PagerDuty has a 1-year low of $15.49 and a 1-year high of $23.85. 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 market cap of $1.63 billion, a PE ratio of -22.55 and a beta of 1.12. The business has a 50-day moving average of $18.24 and a 200-day moving average of $18.70.

PagerDuty (NYSE:PD) last issued its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 EPS. As a group, analysts forecast that PagerDuty will post -0.27 earnings per share for the current year.

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

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Shelley Webb sold 7,879 shares of PagerDuty 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 transaction, the insider now directly owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,048 shares of company stock valued at $186,699 over the last quarter. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On PagerDuty

Institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new stake in shares of PagerDuty in the fourth quarter valued at $43,000. Quarry LP increased its position in PagerDuty by 98.3% in the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after acquiring an additional 1,384 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of PagerDuty during the fourth quarter worth approximately $58,000. Fred Alger Management LLC grew its stake in shares of PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PagerDuty in the fourth quarter valued at approximately $130,000. 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.