PagerDuty (NYSE:PD) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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

PagerDuty Price Performance

Shares of PD stock opened at $18.41 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty has a twelve month low of $15.49 and a twelve month high of $23.85. The company has a market cap of $1.66 billion, a P/E ratio of -23.01 and a beta of 1.12. The business has a fifty day simple moving average of $18.24 and a 200 day simple moving average of $18.69.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America downgraded PagerDuty from a “buy” rating to an “underperform” rating and reduced their price target for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Truist Financial cut their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada cut their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group cut their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, PagerDuty has a consensus rating of “Hold” and a consensus price target of $20.73.

Insiders Place Their Bets

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the company’s 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 transaction, the insider now owns 199,122 shares of the company’s stock, valued at $3,622,029.18. This represents a 3.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction dated 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 directly owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,048 shares of company stock valued at $186,699 in the last 90 days. Corporate insiders own 7.60% of the company’s stock.

PagerDuty announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.