PagerDuty (NYSE:PD) Announces Earnings Results

PagerDuty (NYSE:PD) released its earnings results on Thursday. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. During the same quarter last year, the company earned $0.17 earnings per share. PagerDuty’s quarterly revenue was up 9.3% compared to the same quarter last year.

PagerDuty Trading Up 17.9 %

PagerDuty stock opened at $18.41 on Friday. The stock has a market cap of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. The stock has a 50-day moving average price of $18.24 and a 200 day moving average price of $18.69. PagerDuty has a 52 week low of $15.49 and a 52 week high of $23.85. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

Insider Buying and Selling

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,048 shares of company stock worth $186,699. 7.60% of the stock is owned by corporate insiders.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Canaccord Genuity Group reduced their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday. Truist Financial reduced their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Bank of America downgraded 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 research note on Thursday, January 30th. Finally, The Goldman Sachs Group cut their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.73.

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.