PagerDuty, Inc. (NYSE:PD – Get Free Report) hit a new 52-week low on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $24.00 to $21.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. PagerDuty traded as low as $16.21 and last traded at $16.21, with a volume of 59932 shares. The stock had previously closed at $18.29.
PD has been the subject of a number of other reports. Canaccord Genuity Group reduced their price target on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley cut their price target on PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada lowered their target price on shares of PagerDuty from $27.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday. Robert W. Baird reduced their price objective on shares of PagerDuty from $22.00 to $18.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, TD Cowen reduced their price target on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.91.
Insider Activity at PagerDuty
In other news, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $20.09, for a total transaction of $376,687.50. Following the completion of the sale, the chief executive officer now directly owns 1,010,861 shares in the company, valued at $20,308,197.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other PagerDuty news, CFO Howard Wilson sold 12,108 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $20.49, for a total transaction of $248,092.92. Following the completion of the sale, the chief financial officer now directly owns 594,202 shares in the company, valued at $12,175,198.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Tejada sold 18,750 shares of PagerDuty stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $20.09, for a total value of $376,687.50. Following the completion of the transaction, the chief executive officer now directly owns 1,010,861 shares in the company, valued at $20,308,197.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,244 shares of company stock valued at $2,316,980. 7.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP grew its stake in shares of PagerDuty by 1,537.2% during the second quarter. Quarry LP now owns 1,408 shares of the company’s stock valued at $32,000 after acquiring an additional 1,322 shares in the last quarter. First Horizon Advisors Inc. boosted its position in PagerDuty by 28.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,323 shares of the company’s stock valued at $53,000 after purchasing an additional 508 shares during the period. Fred Alger Management LLC grew its position in shares of PagerDuty by 170.6% during the second quarter. Fred Alger Management LLC now owns 2,503 shares of the company’s stock worth $57,000 after acquiring an additional 1,578 shares during the last quarter. Cambridge Trust Co. acquired a new stake in PagerDuty in the 1st quarter valued at approximately $68,000. Finally, Headlands Technologies LLC bought a new stake in PagerDuty during the 2nd quarter valued at $114,000. 97.26% of the stock is owned by institutional investors and hedge funds.
PagerDuty Stock Down 1.1 %
The company has a market cap of $1.73 billion, a price-to-earnings ratio of -17.90 and a beta of 1.05. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58. The stock has a 50-day simple moving average of $20.35 and a 200-day simple moving average of $21.11.
PagerDuty (NYSE:PD – Get Free Report) 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 business had revenue of $115.94 million for the quarter, compared to analyst estimates of $116.52 million. During the same quarter last year, the business earned ($0.18) earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that PagerDuty, Inc. will post -0.44 EPS for the current year.
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.