Canaccord Genuity Group Cuts PagerDuty (NYSE:PD) Price Target to $24.00

PagerDuty (NYSE:PD) had its target price lowered by Canaccord Genuity Group from $26.00 to $24.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on PD. Scotiabank reduced their target price on PagerDuty from $23.00 to $18.00 and set a sector perform rating for the company in a report on Wednesday. Bank of America reduced their target price on PagerDuty from $28.00 to $23.00 and set a buy rating for the company in a report on Wednesday. The Goldman Sachs Group reduced their target price on PagerDuty from $24.00 to $21.00 and set a neutral rating for the company in a report on Wednesday. JPMorgan Chase & Co. assumed coverage on PagerDuty in a report on Thursday, June 27th. They issued a neutral rating and a $24.00 target price for the company. Finally, Robert W. Baird reduced their target price on PagerDuty from $22.00 to $18.00 and set a neutral rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $21.91.

PagerDuty Stock Down 4.5 %

PD stock opened at $17.78 on Wednesday. PagerDuty has a twelve month low of $16.46 and a twelve month high of $26.70. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 2.58. The firm has a market cap of $1.70 billion, a PE ratio of -17.60 and a beta of 1.05. The business has a 50 day moving average of $20.08 and a 200 day moving average of $21.01.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The company had revenue of $115.94 million during the quarter, compared to analyst estimates of $116.52 million. During the same quarter last year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts forecast that PagerDuty will post -0.44 EPS for the current fiscal year.

Insider Activity at PagerDuty

In related news, CEO Jennifer Tejada sold 2,000 shares of PagerDuty stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $22.00, for a total transaction of $44,000.00. Following the transaction, the chief executive officer now directly owns 1,015,637 shares in the company, valued at $22,344,014. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Howard Wilson sold 12,108 shares of PagerDuty stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $20.49, for a total transaction of $248,092.92. Following the transaction, the chief financial officer now directly owns 594,202 shares in the company, valued at $12,175,198.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer Tejada sold 2,000 shares of PagerDuty stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $22.00, for a total value of $44,000.00. Following the transaction, the chief executive officer now owns 1,015,637 shares in the company, valued at $22,344,014. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,244 shares of company stock worth $2,316,980. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On PagerDuty

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PagerDuty during the fourth quarter valued at approximately $4,630,000. Massachusetts Financial Services Co. MA raised its stake in PagerDuty by 50.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock worth $50,011,000 after acquiring an additional 728,152 shares during the last quarter. Natixis Advisors L.P. raised its stake in PagerDuty by 13.9% in the 4th quarter. Natixis Advisors L.P. now owns 13,541 shares of the company’s stock worth $313,000 after acquiring an additional 1,650 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. raised its stake in PagerDuty by 13.9% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 655,000 shares of the company’s stock worth $15,163,000 after acquiring an additional 80,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of PagerDuty by 65.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock valued at $52,911,000 after buying an additional 904,136 shares during the last quarter. 97.26% of the stock is owned by institutional investors.

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.