Craig Hallum Cuts PagerDuty (NYSE:PD) Price Target to $26.00

PagerDuty (NYSE:PD) had its target price trimmed by Craig Hallum from $30.00 to $26.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the stock. Bank of America reduced their price objective on shares of PagerDuty from $28.00 to $23.00 and set a buy rating on the stock in a research note on Wednesday. Morgan Stanley cut their target price on shares of PagerDuty from $24.00 to $19.00 and set an equal weight rating on the stock in a research note on Wednesday. Scotiabank cut their target price on shares of PagerDuty from $23.00 to $18.00 and set a sector perform rating on the stock in a research note on Wednesday. Robert W. Baird cut their target price on shares of PagerDuty from $22.00 to $18.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of PagerDuty in a research note on Thursday, June 27th. They set a neutral rating and a $24.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $21.91.

PagerDuty Trading Down 4.5 %

Shares of NYSE PD opened at $17.78 on Wednesday. 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. The firm has a 50 day moving average price of $20.18 and a two-hundred day moving average price of $21.07. The stock has a market cap of $1.70 billion, a P/E ratio of -17.60 and a beta of 1.05.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating 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 company had revenue of $115.94 million for the quarter, compared to analyst estimates of $116.52 million. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that PagerDuty will post -0.44 EPS for the current year.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 5,732 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $21.98, for a total value of $125,989.36. Following the transaction, the insider now directly owns 235,657 shares of the company’s stock, valued at $5,179,740.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jennifer Tejada sold 31,250 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $21.07, for a total value of $658,437.50. Following the completion of the sale, the chief executive officer now owns 1,023,579 shares in the company, valued at $21,566,809.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shelley Webb sold 5,732 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $21.98, for a total transaction of $125,989.36. Following the completion of the sale, the insider now owns 235,657 shares of the company’s stock, valued at approximately $5,179,740.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,244 shares of company stock valued at $2,316,980. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of PagerDuty

Several institutional investors and hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC increased its holdings in PagerDuty by 12.5% during the second 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 during the last quarter. Goldman Sachs Group Inc. boosted its position 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 period. Massachusetts Financial Services Co. MA boosted its position in PagerDuty by 50.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,160,281 shares of the company’s stock worth $50,011,000 after purchasing an additional 728,152 shares during the period. Norges Bank bought a new position in PagerDuty during the fourth quarter worth about $15,912,000. Finally, SpiderRock Advisors LLC bought a new position in PagerDuty during the first quarter worth about $11,083,000. 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.