Royal Bank of Canada Increases PagerDuty (NYSE:PD) Price Target to $24.00

PagerDuty (NYSE:PD) had its price target hoisted by Royal Bank of Canada from $22.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 17.42% from the company’s previous close.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group cut their price target on PagerDuty from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. The Goldman Sachs Group cut their price target on PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. cut their price target on PagerDuty from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Scotiabank cut their price target on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. Finally, Robert W. Baird cut their price target on PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.00.

PagerDuty Stock Down 2.2 %

PD stock traded down $0.47 during trading on Wednesday, hitting $20.44. 763,890 shares of the company’s stock were exchanged, compared to its average volume of 1,119,431. The business has a 50-day moving average price of $18.68 and a two-hundred day moving average price of $19.59. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -22.97 and a beta of 1.07. PagerDuty has a 52-week low of $16.46 and a 52-week high of $26.70. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.38.

PagerDuty (NYSE:PD) last posted 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 firm had revenue of $115.94 million during the quarter, compared to analysts’ expectations of $116.52 million. PagerDuty had a negative return on equity of 25.83% and a negative net margin of 18.58%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) earnings per share. As a group, equities research analysts expect that PagerDuty will post -0.37 EPS for the current year.

Insiders Place Their Bets

In other PagerDuty news, insider Shelley Webb sold 6,246 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $18.12, for a total value of $113,177.52. Following the sale, the insider now owns 216,572 shares of the company’s stock, valued at approximately $3,924,284.64. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mitra Rezvan sold 2,942 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $18.06, for a total value of $53,132.52. Following the completion of the sale, the chief accounting officer now directly owns 108,449 shares in the company, valued at $1,958,588.94. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,396 shares of company stock worth $1,733,561. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of PagerDuty

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of PagerDuty by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after acquiring an additional 37,147 shares during the last quarter. Aequim Alternative Investments LP boosted its stake in shares of PagerDuty by 43.8% during the third quarter. Aequim Alternative Investments LP now owns 163,300 shares of the company’s stock valued at $3,029,000 after acquiring an additional 49,700 shares during the last quarter. Barclays PLC boosted its stake in shares of PagerDuty by 24.2% during the third quarter. Barclays PLC now owns 901,120 shares of the company’s stock valued at $16,716,000 after acquiring an additional 175,733 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of PagerDuty during the third quarter valued at $278,000. Finally, XTX Topco Ltd acquired a new stake in shares of PagerDuty during the third quarter valued at $1,434,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

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.