PagerDuty (NYSE:PD) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of PagerDuty (NYSE:PD) in a research note released on Thursday, Marketbeat reports. The firm issued a neutral rating and a $24.00 price target on the stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. started coverage on PagerDuty in a research report on Thursday, June 27th. They set a neutral rating and a $24.00 target price for the company. Craig Hallum upgraded PagerDuty from a hold rating to a buy rating and boosted their target price for the stock from $21.00 to $30.00 in a research report on Wednesday, June 12th. Canaccord Genuity Group decreased their target price on PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a research report on Friday, May 31st. Finally, Scotiabank started coverage on PagerDuty in a research report on Friday, June 28th. They set a sector perform rating and a $23.00 target price for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $26.64.

PagerDuty Price Performance

Shares of PD stock opened at $20.23 on Thursday. The firm’s 50 day moving average price is $20.80 and its two-hundred day moving average price is $22.19. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. PagerDuty has a 52-week low of $17.92 and a 52-week high of $26.70. The stock has a market cap of $1.93 billion, a PE ratio of -20.03 and a beta of 1.07.

PagerDuty (NYSE:PD) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The company had revenue of $111.17 million for the quarter, compared to the consensus estimate of $111.74 million. As a group, analysts forecast that PagerDuty will post -0.44 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 2,000 shares of PagerDuty stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $22.00, for a total value of $44,000.00. Following the sale, the chief executive officer now owns 1,015,637 shares of the company’s stock, valued at approximately $22,344,014. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PagerDuty news, CFO Howard Wilson sold 12,108 shares of PagerDuty stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total value of $248,092.92. Following the sale, the chief financial officer now directly owns 594,202 shares in the company, valued at approximately $12,175,198.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Tejada sold 2,000 shares of the stock in a transaction dated 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 owns 1,015,637 shares of the company’s stock, valued at $22,344,014. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,982 shares of company stock worth $1,621,029. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of PagerDuty

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vestmark Advisory Solutions Inc. acquired a new position in shares of PagerDuty during the 4th quarter worth approximately $6,778,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in PagerDuty during the fourth quarter worth $4,630,000. Massachusetts Financial Services Co. MA lifted its stake in PagerDuty by 50.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock valued at $50,011,000 after acquiring an additional 728,152 shares during the last quarter. Vanguard Group Inc. grew its position in shares of PagerDuty by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 9,802,821 shares of the company’s stock valued at $220,465,000 after acquiring an additional 536,763 shares during the period. Finally, Natixis Advisors L.P. increased its stake in shares of PagerDuty by 13.9% during the 4th quarter. Natixis Advisors L.P. now owns 13,541 shares of the company’s stock worth $313,000 after purchasing an additional 1,650 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

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.