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

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

Other equities research analysts have also issued research reports about the stock. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and cut their price target for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Royal Bank of Canada dropped their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, PagerDuty currently has a consensus rating of “Hold” and a consensus target price of $20.73.

PagerDuty Stock Performance

PagerDuty stock opened at $18.41 on Friday. The firm has a fifty day simple moving average of $18.24 and a two-hundred day simple moving average of $18.67. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty has a twelve month low of $15.49 and a twelve month high of $23.85. The company has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12.

PagerDuty (NYSE:PD) last released its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. PagerDuty’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. Research analysts expect that PagerDuty will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has authorized a share buyback program on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at PagerDuty

In related news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. The trade was a 3.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,048 shares of company stock valued at $186,699. Corporate insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On PagerDuty

Several institutional investors have recently modified their holdings of PD. RGM Capital LLC grew its stake in shares of PagerDuty by 1.3% in the third quarter. RGM Capital LLC now owns 4,564,296 shares of the company’s stock worth $84,668,000 after acquiring an additional 59,902 shares during the period. Janus Henderson Group PLC grew its position in PagerDuty by 2.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company’s stock worth $55,817,000 after purchasing an additional 61,456 shares during the period. Geode Capital Management LLC raised its stake in PagerDuty by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after buying an additional 37,147 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PagerDuty by 285.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock valued at $23,444,000 after buying an additional 936,257 shares during the period. Finally, Barclays PLC grew its holdings in shares of PagerDuty by 2.0% in the fourth quarter. Barclays PLC now owns 918,762 shares of the company’s stock worth $16,777,000 after acquiring an additional 17,642 shares during the period. 97.26% of the stock is owned by hedge funds and other 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.