PagerDuty (NYSE:PD) Posts Earnings Results, Beats Estimates By $0.06 EPS

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

PagerDuty Trading Up 17.9 %

Shares of PD opened at $18.41 on Friday. The stock has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. The company’s fifty day moving average is $18.24 and its 200 day moving average is $18.69. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. PagerDuty has a fifty-two week low of $15.49 and a fifty-two week high of $23.85.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PD shares. Canaccord Genuity Group reduced their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. The Goldman Sachs Group decreased their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada dropped their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Bank of America downgraded PagerDuty from a “buy” rating to an “underperform” rating and decreased their target price for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.73.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the sale, the insider now directly owns 199,122 shares in the company, valued at $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the transaction, the chief executive officer now owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,048 shares of company stock worth $186,699 over the last 90 days. 7.60% of the stock is owned by insiders.

PagerDuty declared that its board has authorized a share repurchase plan on Thursday, March 13th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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.