PagerDuty (NYSE:PD) Given New $23.00 Price Target at Bank of America

PagerDuty (NYSE:PD) had its price target trimmed by Bank of America from $28.00 to $23.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

PD has been the topic of a number of other research reports. Canaccord Genuity Group dropped their price target on PagerDuty from $27.00 to $26.00 and set a buy rating on the stock in a research report on Friday, May 31st. Morgan Stanley dropped 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 raised PagerDuty from a hold rating to a buy rating and increased their price target for the stock from $21.00 to $30.00 in a research report on Wednesday, June 12th. Scotiabank began coverage on PagerDuty in a research report on Friday, June 28th. They set a sector perform rating and a $23.00 price target on the stock. Finally, JPMorgan Chase & Co. began coverage on PagerDuty in a research report on Thursday, June 27th. They set a neutral rating and a $24.00 price target 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 a consensus rating of Hold and an average price target of $21.91.

PagerDuty Stock Performance

Shares of PagerDuty stock opened at $17.78 on Wednesday. The stock’s fifty day moving average is $20.08 and its two-hundred day moving average is $21.01. The company has a market capitalization of $1.70 billion, a PE ratio of -17.60 and a beta of 1.05. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 2.58. PagerDuty has a 52 week low of $16.46 and a 52 week high of $26.70.

PagerDuty (NYSE:PD) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating 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 company 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 company posted ($0.18) EPS. PagerDuty’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts expect that PagerDuty will post -0.44 earnings per share for the current year.

Insider Transactions at PagerDuty

In other news, CEO Jennifer Tejada sold 31,250 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total value of $658,437.50. Following the completion of the transaction, the chief executive officer now directly owns 1,023,579 shares in the company, valued at $21,566,809.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Howard Wilson sold 12,108 shares of PagerDuty stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $20.49, for a total transaction of $248,092.92. Following the completion of the transaction, the chief financial officer now directly owns 594,202 shares in the company, valued at $12,175,198.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Tejada sold 31,250 shares of PagerDuty stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $21.07, for a total value of $658,437.50. Following the transaction, the chief executive officer now owns 1,023,579 shares of the company’s stock, valued at $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. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. raised its position in PagerDuty by 214.5% during the second quarter. Point72 Asset Management L.P. now owns 57,558 shares of the company’s stock valued at $1,320,000 after acquiring an additional 39,258 shares in the last quarter. Quarry LP boosted its stake in shares of PagerDuty by 1,537.2% in the second quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after acquiring an additional 1,322 shares during the last quarter. Capital Impact Advisors LLC boosted its stake in shares of PagerDuty by 33.6% in the second quarter. Capital Impact Advisors LLC now owns 33,882 shares of the company’s stock worth $777,000 after acquiring an additional 8,518 shares during the last quarter. Clearline Capital LP acquired a new stake in shares of PagerDuty in the second quarter worth approximately $1,323,000. Finally, Algert Global LLC boosted its stake in shares of PagerDuty by 236.1% in the second quarter. Algert Global LLC now owns 34,116 shares of the company’s stock worth $782,000 after acquiring an additional 23,966 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

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.