PagerDuty (NYSE:PD) Price Target Lowered to $26.00 at Truist Financial

PagerDuty (NYSE:PD) had its target price trimmed by Truist Financial from $30.00 to $26.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Royal Bank of Canada lowered their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, PagerDuty presently has a consensus rating of “Hold” and a consensus target price of $20.73.

PagerDuty Price Performance

Shares of NYSE PD opened at $18.41 on Friday. The firm’s 50-day moving average price is $18.24 and its 200-day moving average price is $18.69. PagerDuty has a 1-year low of $15.49 and a 1-year high of $23.85. The firm has a market capitalization of $1.66 billion, a P/E ratio of -23.01 and a beta of 1.12. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

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

PagerDuty announced that its Board of Directors has initiated a share buyback program on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Shelley Webb sold 7,879 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the transaction, the insider now directly owns 199,122 shares of the company’s stock, valued at $3,622,029.18. This represents a 3.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the transaction, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,048 shares of company stock valued at $186,699. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PD. Quest Partners LLC bought a new position in shares of PagerDuty during the 3rd quarter valued at approximately $845,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of PagerDuty by 4.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 489,905 shares of the company’s stock valued at $9,088,000 after buying an additional 21,126 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of PagerDuty during the 3rd quarter valued at approximately $444,000. Algert Global LLC lifted its stake in shares of PagerDuty by 98.9% during the 3rd quarter. Algert Global LLC now owns 67,856 shares of the company’s stock valued at $1,259,000 after buying an additional 33,740 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of PagerDuty during the 3rd quarter valued at approximately $1,645,000. 97.26% of the stock is owned by 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.