Morgan Stanley Cuts PagerDuty (NYSE:PD) Price Target to $19.00

PagerDuty (NYSE:PD) had its price objective decreased by Morgan Stanley from $24.00 to $19.00 in a research note issued to investors on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

PD has been the subject of a number of other reports. JPMorgan Chase & Co. assumed coverage on PagerDuty in a research report on Thursday, June 27th. They issued a neutral rating and a $24.00 target price for the company. Canaccord Genuity Group decreased their price target on shares of PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a research note on Friday, May 31st. The Goldman Sachs Group assumed coverage on shares of PagerDuty in a report on Thursday, July 18th. They set a neutral rating and a $24.00 price objective on the stock. Scotiabank started coverage on shares of PagerDuty in a report on Friday, June 28th. They set a sector perform rating and a $23.00 price objective for the company. Finally, Craig Hallum upgraded shares of PagerDuty from a hold rating to a buy rating and upped their target price for the stock from $21.00 to $30.00 in a report on Wednesday, June 12th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, PagerDuty has a consensus rating of Hold and an average target price of $21.91.

PagerDuty Price Performance

PagerDuty stock opened at $17.78 on Wednesday. The stock’s 50 day moving average price is $20.18 and its two-hundred day moving average price is $21.07. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -17.60 and a beta of 1.05. 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 $16.46 and a 52-week high of $26.70.

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

Insider Buying and Selling at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of the company’s stock in a transaction on 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 owns 1,023,579 shares in the company, valued at approximately $21,566,809.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total transaction of $658,437.50. Following the completion of the transaction, the chief executive officer now directly owns 1,023,579 shares of the company’s stock, valued at $21,566,809.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Howard Wilson sold 12,108 shares of PagerDuty stock in a transaction dated Wednesday, July 10th. The stock was 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 directly owns 594,202 shares of the company’s stock, valued at approximately $12,175,198.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,244 shares of company stock worth $2,316,980. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. ARK Investment Management LLC grew its stake in PagerDuty by 12.5% in the 2nd quarter. ARK Investment Management LLC now owns 10,604,295 shares of the company’s stock worth $243,156,000 after buying an additional 1,180,202 shares in the last quarter. Vanguard Group Inc. grew its position in PagerDuty by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,631,790 shares of the company’s stock worth $218,449,000 after acquiring an additional 33,454 shares in the last quarter. RGM Capital LLC increased its stake in PagerDuty by 3.3% in the second quarter. RGM Capital LLC now owns 4,504,394 shares of the company’s stock valued at $103,286,000 after acquiring an additional 143,701 shares during the last quarter. Janus Henderson Group PLC raised 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 in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in PagerDuty by 65.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,285,588 shares of the company’s stock worth $52,911,000 after purchasing an additional 904,136 shares during the last quarter. 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.