TD Securities Issues Pessimistic Forecast for PagerDuty (NYSE:PD) Stock Price

PagerDuty (NYSE:PD) had its price objective cut by research analysts at TD Securities from $19.00 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ price target would suggest a potential upside of 10.77% from the company’s previous close.

Several other equities analysts have also recently commented on PD. Canaccord Genuity Group dropped their target price on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Morgan Stanley dropped their target price on shares of PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Royal Bank of Canada lowered their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Finally, The Goldman Sachs Group cut their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.33.

PagerDuty Price Performance

PD stock opened at $16.25 on Wednesday. PagerDuty has a 52-week low of $14.30 and a 52-week high of $23.12. The firm has a 50 day moving average price of $16.53 and a 200-day moving average price of $18.08. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -20.31 and a beta of 0.99.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. Equities research analysts forecast that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its board has initiated a stock buyback program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of PagerDuty

Several hedge funds have recently modified their holdings of PD. Franklin Resources Inc. boosted its position in shares of PagerDuty by 5.4% in the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock worth $614,000 after acquiring an additional 1,701 shares during the last quarter. Northern Trust Corp lifted its holdings in PagerDuty by 4.0% during the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company’s stock worth $16,563,000 after buying an additional 35,026 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PagerDuty by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock worth $16,531,000 after purchasing an additional 100,207 shares during the period. Barclays PLC grew its holdings in shares of PagerDuty by 24.2% during the third quarter. Barclays PLC now owns 901,120 shares of the company’s stock valued at $16,716,000 after purchasing an additional 175,733 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of PagerDuty in the 4th quarter worth about $352,000. 97.26% of the stock is owned by institutional investors and hedge funds.

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.