PagerDuty (NYSE:PD) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

PagerDuty (NYSE:PD) issued its quarterly earnings data on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01, FiscalAI reports. The firm had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $123.27 million. PagerDuty had a net margin of 38.60% and a return on equity of 18.20%.

PagerDuty Stock Performance

Shares of PD traded up $0.47 during trading hours on Thursday, reaching $12.66. 1,715,200 shares of the company traded hands, compared to its average volume of 2,456,250. The stock’s fifty day moving average is $10.49 and its 200 day moving average is $8.37. The stock has a market cap of $976.30 million, a P/E ratio of 6.21, a price-to-earnings-growth ratio of 3.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.95 and a current ratio of 1.95. PagerDuty has a 1-year low of $5.70 and a 1-year high of $17.29.

Institutional Investors Weigh In On PagerDuty

A number of institutional investors have recently added to or reduced their stakes in PD. Kestra Advisory Services LLC acquired a new position in PagerDuty in the 4th quarter valued at approximately $68,000. Los Angeles Capital Management LLC acquired a new stake in shares of PagerDuty during the 4th quarter worth approximately $114,000. Inceptionr LLC acquired a new stake in shares of PagerDuty during the 4th quarter worth approximately $132,000. State of Tennessee Department of Treasury bought a new stake in shares of PagerDuty during the second quarter valued at approximately $160,000. Finally, Numerai GP LLC bought a new stake in shares of PagerDuty during the fourth quarter valued at approximately $161,000. 97.26% of the stock is owned by institutional investors and hedge funds.

PagerDuty declared that its board has initiated a stock repurchase program on Thursday, May 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 16.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PD. Royal Bank Of Canada raised their target price on PagerDuty from $9.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Weiss Ratings upgraded PagerDuty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Morgan Stanley lowered PagerDuty from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $10.00 to $9.00 in a report on Tuesday, July 21st. TD Cowen reissued a “buy” rating on shares of PagerDuty in a research note on Wednesday. Finally, Wall Street Zen lowered PagerDuty from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.28.

About PagerDuty

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.