PagerDuty (NYSE:PD) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

PagerDuty (NYSE:PD) released its quarterly earnings data on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06, Briefing.com reports. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. During the same period in the prior year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year.

PagerDuty Stock Up 17.9 %

PD stock opened at $18.41 on Friday. The business’s 50 day simple moving average is $18.24 and its 200 day simple moving average is $18.69. The firm has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. PagerDuty has a 1-year low of $15.49 and a 1-year high of $23.85. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

Insider Activity at PagerDuty

In other 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 transaction of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at approximately $17,366,220. This represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider now 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 sold 10,048 shares of company stock worth $186,699 in the last ninety days. 7.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PD shares. Truist Financial lowered their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday. Canaccord Genuity Group lowered their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday. The Goldman Sachs Group decreased their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada decreased their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and cut their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.73.

PagerDuty declared that its board has authorized a share repurchase program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.