PagerDuty (NYSE:PD) Issues Quarterly Earnings Results

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

PagerDuty Stock Up 17.9 %

NYSE PD traded up $2.80 during trading on Friday, hitting $18.41. The stock had a trading volume of 4,364,395 shares, compared to its average volume of 1,046,966. The company has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. The company’s 50-day moving average price is $18.24 and its two-hundred day moving average price is $18.69. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. PagerDuty has a 12 month low of $15.49 and a 12 month high of $23.85.

Insider Buying and Selling at PagerDuty

In related news, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shelley Webb sold 7,879 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the sale, the insider now owns 199,122 shares of the company’s stock, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,048 shares of company stock worth $186,699. Corporate insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

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

PagerDuty announced that its board has approved a stock buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.