PagerDuty (NYSE:PD) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of PagerDuty (NYSE:PD) in a research note released on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $24.00 target price on the stock.

PD has been the topic of a number of other research reports. Truist Financial raised shares of PagerDuty from a hold rating to a buy rating and raised their price objective for the stock from $25.00 to $30.00 in a report on Monday, March 18th. Robert W. Baird reduced their price objective on PagerDuty from $25.00 to $22.00 and set a neutral rating for the company in a research note on Friday, March 15th. Craig Hallum upgraded PagerDuty from a hold rating to a buy rating and lifted their target price for the company from $21.00 to $30.00 in a research report on Wednesday, June 12th. Finally, Canaccord Genuity Group reduced their price target on PagerDuty from $27.00 to $26.00 and set a buy rating for the company in a research report on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $26.90.

PagerDuty Trading Up 0.7 %

Shares of PD stock opened at $22.93 on Thursday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 2.58. PagerDuty has a 12-month low of $17.92 and a 12-month high of $26.70. The stock has a market capitalization of $2.19 billion, a P/E ratio of -22.70 and a beta of 1.00. The firm’s 50 day moving average is $20.50 and its 200 day moving average is $22.41.

PagerDuty (NYSE:PD) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $111.17 million for the quarter, compared to the consensus estimate of $111.74 million. PagerDuty had a negative return on equity of 28.38% and a negative net margin of 21.34%. Research analysts expect that PagerDuty will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shelley Webb sold 6,859 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.39, for a total value of $153,573.01. Following the transaction, the insider now directly owns 253,439 shares of the company’s stock, valued at approximately $5,674,499.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Mitra Rezvan sold 2,215 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total transaction of $47,888.30. Following the completion of the transaction, the chief accounting officer now directly owns 119,452 shares of the company’s stock, valued at $2,582,552.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shelley Webb sold 6,859 shares of PagerDuty stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $22.39, for a total value of $153,573.01. Following the completion of the sale, the insider now directly owns 253,439 shares in the company, valued at approximately $5,674,499.21. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund lifted its stake in shares of PagerDuty by 1.5% during the 4th quarter. New York State Common Retirement Fund now owns 36,356 shares of the company’s stock worth $842,000 after acquiring an additional 532 shares during the last quarter. Diversified Trust Co increased its stake in PagerDuty by 4.2% in the third quarter. Diversified Trust Co now owns 16,312 shares of the company’s stock worth $367,000 after purchasing an additional 660 shares during the period. FNY Investment Advisers LLC lifted its position in shares of PagerDuty by 100.0% during the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock worth $46,000 after purchasing an additional 1,000 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of PagerDuty by 6.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 17,770 shares of the company’s stock worth $411,000 after purchasing an additional 1,020 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of PagerDuty by 6.9% during the first quarter. ProShare Advisors LLC now owns 16,045 shares of the company’s stock valued at $364,000 after purchasing an additional 1,034 shares during the period. 97.26% of the stock is currently owned by institutional investors.

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.