PagerDuty (NYSE:PD) Shares Gap Up on Analyst Upgrade

Shares of PagerDuty, Inc. (NYSE:PD) gapped up prior to trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $22.00 to $24.00. The stock had previously closed at $20.91, but opened at $21.76. Royal Bank of Canada currently has an outperform rating on the stock. PagerDuty shares last traded at $20.88, with a volume of 116,763 shares trading hands.

Several other research firms also recently weighed in on PD. Scotiabank decreased their price target on shares of PagerDuty from $23.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird decreased their target price on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. The Goldman Sachs Group lowered their target price on PagerDuty from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Canaccord Genuity Group cut their price target on PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Bank of America lowered their price objective on PagerDuty from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.00.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, CFO Howard Wilson sold 21,066 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.02, for a total transaction of $421,741.32. Following the transaction, the chief financial officer now directly owns 545,742 shares in the company, valued at $10,925,754.84. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $20.04, for a total value of $375,750.00. Following the completion of the sale, the chief executive officer now directly owns 907,631 shares of the company’s stock, valued at $18,188,925.24. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,396 shares of company stock worth $1,733,561 over the last quarter. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PD. ARK Investment Management LLC boosted its position in shares of PagerDuty by 12.5% during the 2nd quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock worth $243,156,000 after acquiring an additional 1,180,202 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PagerDuty by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,631,790 shares of the company’s stock valued at $218,449,000 after purchasing an additional 33,454 shares in the last quarter. RGM Capital LLC boosted its holdings in PagerDuty by 1.3% in the third quarter. RGM Capital LLC now owns 4,564,296 shares of the company’s stock valued at $84,668,000 after purchasing an additional 59,902 shares in the last quarter. Geode Capital Management LLC increased its stake in PagerDuty by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after purchasing an additional 37,147 shares during the last quarter. Finally, Barclays PLC raised its holdings in PagerDuty by 24.2% during the third quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after purchasing an additional 175,733 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Stock Up 0.5 %

The firm’s 50-day moving average price is $18.75 and its two-hundred day moving average price is $19.60. The company has a debt-to-equity ratio of 2.38, a quick ratio of 2.13 and a current ratio of 2.13. The firm has a market cap of $1.96 billion, a PE ratio of -23.61 and a beta of 1.07.

PagerDuty (NYSE:PD) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) EPS. As a group, equities research analysts expect that PagerDuty, Inc. will post -0.37 EPS for the current fiscal year.

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.