Pagerduty (NYSE:PD) Price Target Lowered to $43.00 at Royal Bank of Canada

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Pagerduty (NYSE:PD) had its price objective decreased by Royal Bank of Canada to $43.00 in a research note published on Wednesday morning, The Fly reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on PD. TD Securities upgraded shares of Pagerduty to a top pick rating and lowered their target price for the company from $5.00 to $4.50 in a report on Wednesday, September 4th. KeyCorp restated a hold rating on shares of Pagerduty in a research note on Friday, September 6th. Robert W. Baird assumed coverage on Pagerduty in a research note on Monday, October 14th. They issued an outperform rating and a $31.00 price target on the stock. DA Davidson initiated coverage on Pagerduty in a research report on Friday, August 16th. They set a neutral rating and a $36.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on Pagerduty from $43.00 to $34.00 and set an equal weight rating for the company in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $33.93.

Shares of PD stock traded down $0.27 during mid-day trading on Wednesday, reaching $25.38. 458,775 shares of the company’s stock traded hands, compared to its average volume of 753,031. The company’s 50-day moving average price is $24.54 and its 200-day moving average price is $37.24. Pagerduty has a 12 month low of $21.72 and a 12 month high of $59.82.

Pagerduty (NYSE:PD) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $40.40 million for the quarter, compared to analysts’ expectations of $39.12 million. Pagerduty’s quarterly revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts forecast that Pagerduty will post -0.76 earnings per share for the current fiscal year.

In other news, VP Steven Chung sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.11, for a total transaction of $1,305,500.00. Following the sale, the vice president now owns 50,000 shares in the company, valued at $1,305,500. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 101,000 shares of company stock worth $2,654,760.

Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Pagerduty during the second quarter valued at $164,467,000. Vanguard Group Inc. bought a new position in Pagerduty during the 2nd quarter valued at about $51,931,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pagerduty by 96.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,528 shares of the company’s stock valued at $18,660,000 after acquiring an additional 324,166 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Pagerduty during the 2nd quarter valued at about $30,808,000. Finally, BlackRock Inc. bought a new stake in shares of Pagerduty in the second quarter worth approximately $29,470,000. Hedge funds and other institutional investors own 54.00% of the company’s stock.

Pagerduty Company Profile

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

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