PagerDuty (NYSE:PD – Get Free Report)’s stock price was down 9.4% on Wednesday . The stock traded as low as $9.23 and last traded at $9.1850. Approximately 1,214,504 shares were traded during trading, a decline of 58% from the average daily volume of 2,910,620 shares. The stock had previously closed at $10.14.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. William Blair restated a “market perform” rating on shares of PagerDuty in a report on Friday, March 13th. TD Cowen decreased their price objective on PagerDuty from $20.00 to $10.00 and set a “buy” rating for the company in a report on Friday, March 13th. Canaccord Genuity Group lifted their price objective on PagerDuty from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 29th. Wall Street Zen downgraded PagerDuty from a “buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Truist Financial decreased their price objective on PagerDuty from $12.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, PagerDuty currently has a consensus rating of “Hold” and an average price target of $11.25.
PagerDuty Price Performance
PagerDuty (NYSE:PD – Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.08. PagerDuty had a return on equity of 18.20% and a net margin of 38.60%.The company had revenue of $120.97 million for the quarter, compared to analyst estimates of $119.52 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. PagerDuty has set its Q2 2027 guidance at 0.290-0.310 EPS. On average, analysts predict that PagerDuty will post 0.34 EPS for the current year.
PagerDuty declared that its board has initiated a stock repurchase plan on Thursday, May 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 16.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Hedge Funds Weigh In On PagerDuty
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in PagerDuty by 78.3% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 323,951 shares of the company’s stock valued at $5,352,000 after purchasing an additional 142,232 shares during the last quarter. ARK Investment Management LLC grew its stake in PagerDuty by 2.6% in the third quarter. ARK Investment Management LLC now owns 8,827,404 shares of the company’s stock valued at $145,829,000 after purchasing an additional 224,769 shares during the last quarter. Vanguard Group Inc. grew its stake in PagerDuty by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 13,066,929 shares of the company’s stock valued at $171,307,000 after purchasing an additional 472,975 shares during the last quarter. Readystate Asset Management LP purchased a new position in PagerDuty in the third quarter valued at about $15,946,000. Finally, ArrowMark Colorado Holdings LLC grew its stake in PagerDuty by 18.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 659,565 shares of the company’s stock valued at $10,896,000 after purchasing an additional 101,677 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.
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.
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