PagerDuty (NYSE:PD) Sees Large Decline in Short Interest

PagerDuty (NYSE:PD) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 9,704,178 shares, a decline of 14.4% from the February 26th total of 11,341,921 shares. Based on an average daily trading volume, of 3,620,060 shares, the short-interest ratio is presently 2.7 days. Approximately 12.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

PD has been the subject of a number of analyst reports. Zacks Research cut shares of PagerDuty from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Bank of America started coverage on PagerDuty in a research report on Tuesday, December 2nd. They set an “underperform” rating and a $12.00 price target on the stock. Morgan Stanley set a $9.00 price objective on PagerDuty in a report on Thursday, February 19th. TD Cowen lowered their price objective on PagerDuty from $20.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Royal Bank Of Canada reduced their target price on PagerDuty from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.40.

Hedge Funds Weigh In On PagerDuty

Several institutional investors have recently made changes to their positions in PD. Vanguard Group Inc. raised its holdings in PagerDuty by 17.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,593,954 shares of the company’s stock worth $208,052,000 after purchasing an additional 1,840,407 shares during the period. Ameriprise Financial Inc. grew its holdings in PagerDuty by 333.2% in the third quarter. Ameriprise Financial Inc. now owns 1,450,429 shares of the company’s stock valued at $23,961,000 after purchasing an additional 1,115,577 shares during the period. Readystate Asset Management LP purchased a new stake in shares of PagerDuty in the third quarter valued at approximately $15,946,000. Alyeska Investment Group L.P. acquired a new position in shares of PagerDuty during the 3rd quarter worth approximately $13,710,000. Finally, Danske Bank A S acquired a new position in shares of PagerDuty during the 3rd quarter worth approximately $13,271,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Stock Performance

Shares of PD traded up $0.05 during trading hours on Tuesday, reaching $6.20. 896,842 shares of the company traded hands, compared to its average volume of 3,268,494. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 1.56. The business has a fifty day moving average price of $7.88 and a 200-day moving average price of $12.12. PagerDuty has a 12-month low of $5.91 and a 12-month high of $18.51. The stock has a market capitalization of $526.45 million, a P/E ratio of 3.37, a P/E/G ratio of 2.67 and a beta of 0.73.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. PagerDuty had a return on equity of 16.29% and a net margin of 35.30%.The company had revenue of $124.79 million during the quarter, compared to analysts’ expectations of $122.96 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. PagerDuty has set its Q1 2027 guidance at 0.230-0.250 EPS and its FY 2027 guidance at 1.230-1.280 EPS. Equities analysts anticipate that PagerDuty will post -0.27 EPS for the current fiscal year.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.