The Goldman Sachs Group Cuts PagerDuty (NYSE:PD) Price Target to $21.00

PagerDuty (NYSE:PD) had its price target decreased by research analysts at The Goldman Sachs Group from $24.00 to $21.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 16.09% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Robert W. Baird cut their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley reduced their price objective on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating for the company in a research note on Wednesday. Bank of America lowered their price objective on PagerDuty from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday. Canaccord Genuity Group lowered their price target on PagerDuty from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, JPMorgan Chase & Co. assumed coverage on shares of PagerDuty in a research report on Thursday, June 27th. They issued a “neutral” rating and a $24.00 price objective on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.73.

PagerDuty Stock Performance

Shares of PD stock traded down $0.20 during trading hours on Wednesday, hitting $18.09. 1,703,772 shares of the company were exchanged, compared to its average volume of 1,212,783. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -17.69 and a beta of 1.07. The firm has a fifty day simple moving average of $20.35 and a 200 day simple moving average of $21.11. PagerDuty has a 52-week low of $16.46 and a 52-week high of $26.70.

PagerDuty (NYSE:PD) last released its earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. The business had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. During the same period last year, the business posted ($0.18) earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts predict that PagerDuty will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at PagerDuty

In related news, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $21.98, for a total transaction of $125,989.36. Following the transaction, the insider now directly owns 235,657 shares in the company, valued at approximately $5,179,740.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Shelley Webb sold 5,732 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $21.98, for a total transaction of $125,989.36. Following the completion of the sale, the insider now directly owns 235,657 shares in the company, valued at approximately $5,179,740.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Tejada sold 31,250 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $21.07, for a total transaction of $658,437.50. Following the sale, the chief executive officer now directly owns 1,023,579 shares of the company’s stock, valued at approximately $21,566,809.53. The disclosure for this sale can be found here. Insiders sold a total of 110,244 shares of company stock worth $2,316,980 over the last three months. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its stake in shares of PagerDuty by 214.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 57,558 shares of the company’s stock valued at $1,320,000 after purchasing an additional 39,258 shares during the period. Quarry LP lifted its position in PagerDuty by 1,537.2% during the second quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after buying an additional 1,322 shares during the period. Capital Impact Advisors LLC boosted its holdings in shares of PagerDuty by 33.6% during the 2nd quarter. Capital Impact Advisors LLC now owns 33,882 shares of the company’s stock valued at $777,000 after buying an additional 8,518 shares in the last quarter. Clearline Capital LP bought a new stake in shares of PagerDuty during the 2nd quarter valued at $1,323,000. Finally, Algert Global LLC grew its position in shares of PagerDuty by 236.1% in the 2nd quarter. Algert Global LLC now owns 34,116 shares of the company’s stock worth $782,000 after buying an additional 23,966 shares during the period. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.