JPMorgan Chase & Co. Cuts PagerDuty (NYSE:PD) Price Target to $21.00

PagerDuty (NYSE:PD) had its target price trimmed by JPMorgan Chase & Co. from $24.00 to $21.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts have also issued reports on the company. Morgan Stanley reduced their price target on PagerDuty from $24.00 to $19.00 and set an equal weight rating on the stock in a research report on Wednesday. Craig Hallum reduced their price target on PagerDuty from $30.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday. TD Cowen reduced their price target on PagerDuty from $23.00 to $19.00 and set a hold rating on the stock in a research report on Wednesday. Robert W. Baird reduced their price target on PagerDuty from $22.00 to $18.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on PagerDuty from $24.00 to $21.00 and set a neutral rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, PagerDuty presently has an average rating of Hold and an average target price of $21.91.

PagerDuty Stock Down 4.5 %

NYSE:PD opened at $17.78 on Wednesday. The stock’s fifty day moving average price is $20.18 and its two-hundred day moving average price is $21.07. PagerDuty has a 52-week low of $16.46 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.59 and a current ratio of 2.59. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -17.60 and a beta of 1.05.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $115.94 million for the quarter, compared to the consensus estimate of $116.52 million. During the same quarter in the prior year, the business earned ($0.18) EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts anticipate that PagerDuty will post -0.44 EPS for the current year.

Insiders Place Their Bets

In other PagerDuty news, CEO Jennifer Tejada sold 2,000 shares of PagerDuty 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 directly owns 1,015,637 shares in the company, valued at $22,344,014. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jennifer Tejada sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 1,015,637 shares in the company, valued at $22,344,014. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Howard Wilson sold 12,108 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $20.49, for a total value of $248,092.92. Following the completion of the sale, the chief financial officer now owns 594,202 shares in the company, valued at $12,175,198.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,244 shares of company stock worth $2,316,980. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of PagerDuty

A number of institutional investors have recently modified their holdings of the company. ARK Investment Management LLC boosted its position in PagerDuty by 12.5% during the second quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock valued at $243,156,000 after purchasing an additional 1,180,202 shares during the last quarter. Vanguard Group Inc. boosted its position in PagerDuty by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,631,790 shares of the company’s stock valued at $218,449,000 after purchasing an additional 33,454 shares during the last quarter. RGM Capital LLC boosted its position in PagerDuty by 3.3% during the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock valued at $103,286,000 after purchasing an additional 143,701 shares during the last quarter. Janus Henderson Group PLC boosted its position in PagerDuty by 1.9% during the first quarter. Janus Henderson Group PLC now owns 3,450,388 shares of the company’s stock valued at $78,254,000 after purchasing an additional 64,359 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in PagerDuty by 65.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock valued at $52,911,000 after purchasing an additional 904,136 shares during 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.