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

PagerDuty (NYSE:PD) had its target price reduced by The Goldman Sachs Group from $24.00 to $21.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada decreased their price target on PagerDuty from $27.00 to $22.00 and set an outperform rating on the stock in a research note on Wednesday. Robert W. Baird decreased their target price on PagerDuty from $22.00 to $18.00 and set a neutral rating on the stock in a research note on Wednesday. Craig Hallum decreased their target price on PagerDuty from $30.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday. Canaccord Genuity Group decreased their target price on PagerDuty from $27.00 to $26.00 and set a buy rating on the stock in a research note on Friday, May 31st. Finally, Scotiabank decreased their target price on PagerDuty from $23.00 to $18.00 and set a sector perform rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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 firm has a market cap 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. The business’s fifty day simple moving average is $20.18 and its 200-day simple moving average is $21.07.

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

Insider Buying and Selling at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 5,732 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $21.98, for a total value of $125,989.36. Following the sale, the insider now owns 235,657 shares of the company’s stock, valued at approximately $5,179,740.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Shelley Webb sold 5,732 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $21.98, for a total value of $125,989.36. Following the transaction, the insider now owns 235,657 shares in the company, valued at approximately $5,179,740.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 18,750 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the transaction, the chief executive officer now owns 1,010,861 shares in the company, valued at approximately $20,308,197.49. The disclosure for this sale can be found here. Insiders have sold 110,244 shares of company stock valued at $2,316,980 in the last quarter. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP grew its stake in PagerDuty by 1,537.2% during the 2nd quarter. Quarry LP now owns 1,408 shares of the company’s stock worth $32,000 after buying an additional 1,322 shares during the last quarter. First Horizon Advisors Inc. grew its stake in PagerDuty by 28.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock worth $53,000 after buying an additional 508 shares during the last quarter. Fred Alger Management LLC grew its stake in PagerDuty by 170.6% during the 2nd quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after buying an additional 1,578 shares during the last quarter. Cambridge Trust Co. purchased a new position in PagerDuty during the 1st quarter worth approximately $68,000. Finally, Headlands Technologies LLC purchased a new position in PagerDuty during the 2nd quarter worth approximately $114,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.