PagerDuty, Inc. (NYSE:PD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PagerDuty, Inc. (NYSE:PD) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $27.25.

Several research analysts have recently weighed in on PD shares. Truist Financial upgraded shares of PagerDuty from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $30.00 in a research note on Monday, March 18th. Canaccord Genuity Group decreased their price objective on PagerDuty from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Morgan Stanley reiterated an “equal weight” rating and set a $30.00 price objective on shares of PagerDuty in a research note on Wednesday, January 24th. Finally, Robert W. Baird decreased their target price on shares of PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th.

PagerDuty Stock Performance

PD stock opened at $19.53 on Friday. The company has a market cap of $1.87 billion, a P/E ratio of -22.19 and a beta of 0.93. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.50 and a quick ratio of 2.50. PagerDuty has a 1 year low of $19.18 and a 1 year high of $29.97. The stock’s fifty day moving average price is $22.02 and its 200-day moving average price is $22.59.

PagerDuty (NYSE:PD) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). PagerDuty had a negative net margin of 18.98% and a negative return on equity of 24.65%. The firm had revenue of $111.12 million for the quarter, compared to the consensus estimate of $110.50 million. On average, equities analysts forecast that PagerDuty will post -0.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shelley Webb sold 6,859 shares of PagerDuty stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $22.39, for a total transaction of $153,573.01. Following the sale, the insider now owns 253,439 shares in the company, valued at $5,674,499.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Shelley Webb sold 6,859 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.39, for a total transaction of $153,573.01. Following the completion of the transaction, the insider now owns 253,439 shares in the company, valued at $5,674,499.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mitra Rezvan sold 2,215 shares of PagerDuty stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total value of $47,888.30. Following the completion of the sale, the chief accounting officer now directly owns 119,452 shares in the company, valued at $2,582,552.24. The disclosure for this sale can be found here. Insiders sold 17,967 shares of company stock worth $424,587 in the last three months. 7.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PD. Massachusetts Financial Services Co. MA purchased a new position in PagerDuty during the third quarter worth $32,209,000. Goldman Sachs Group Inc. grew its position 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 worth $52,911,000 after buying an additional 904,136 shares in the last quarter. ARK Investment Management LLC raised its holdings in shares of PagerDuty by 8.1% in the 4th quarter. ARK Investment Management LLC now owns 11,413,423 shares of the company’s stock valued at $264,221,000 after purchasing an additional 858,838 shares in the last quarter. Norges Bank purchased a new stake in shares of PagerDuty in the 4th quarter worth approximately $15,912,000. Finally, Vanguard Group Inc. boosted its stake in shares of PagerDuty by 5.8% during the third quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock valued at $220,465,000 after purchasing an additional 536,763 shares in the last quarter. 97.26% of the stock is currently 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.