PagerDuty (NYSE:PD – Get Rating) updated its third quarter 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -$0.04–$0.03 for the period, compared to the consensus estimate of -$0.06. The company issued revenue guidance of $92.00 million-$94.00 million, compared to the consensus revenue estimate of $92.59 million. PagerDuty also updated its FY 2023 guidance to -$0.12–$0.10 EPS.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on PD. Canaccord Genuity Group started coverage on shares of PagerDuty in a research note on Thursday, July 7th. They issued a buy rating and a $32.00 target price on the stock. Canaccord Genuity Group started coverage on shares of PagerDuty in a research report on Thursday, July 7th. They issued a buy rating and a $32.00 price target on the stock. Cowen reduced their price target on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Friday, September 2nd. Cowen reduced their price target on shares of PagerDuty from $40.00 to $37.00 and set an outperform rating on the stock in a research report on Friday, September 2nd. Finally, Monness Crespi & Hardt lowered shares of PagerDuty from a buy rating to a neutral rating in a research report on Friday, August 12th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $39.04.
Get PagerDuty alerts:PagerDuty Price Performance
Shares of PD stock traded down $0.30 during trading hours on Friday, reaching $22.02. 19,238 shares of the company were exchanged, compared to its average volume of 964,905. PagerDuty has a fifty-two week low of $21.72 and a fifty-two week high of $47.82. The stock's fifty day moving average is $25.97 and its two-hundred day moving average is $27.53. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -15.18 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.48 and a quick ratio of 2.48.
PagerDuty (NYSE:PD – Get Rating) last announced its quarterly earnings data on Thursday, September 1st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. PagerDuty had a negative net margin of 38.83% and a negative return on equity of 45.04%. The business had revenue of $90.30 million for the quarter, compared to analyst estimates of $88.22 million. During the same period in the prior year, the business posted ($0.35) earnings per share. PagerDuty's revenue was up 33.8% compared to the same quarter last year. Sell-side analysts forecast that PagerDuty will post -1.3 earnings per share for the current fiscal year.Insider Activity at PagerDuty
In related news, CEO Jennifer Tejada sold 20,401 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $28.05, for a total value of $572,248.05. Following the transaction, the chief executive officer now directly owns 732,987 shares in the company, valued at $20,560,285.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PagerDuty news, CEO Jennifer Tejada sold 20,401 shares of the company's stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $28.05, for a total value of $572,248.05. Following the completion of the sale, the chief executive officer now owns 732,987 shares of the company's stock, valued at $20,560,285.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Wilson sold 15,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $25.07, for a total transaction of $376,050.00. Following the sale, the chief financial officer now directly owns 451,649 shares of the company's stock, valued at approximately $11,322,840.43. The disclosure for this sale can be found here. Insiders have sold 126,552 shares of company stock worth $3,554,152 over the last ninety days. Company insiders own 8.70% of the company's stock.
Institutional Trading of PagerDuty
A number of large investors have recently added to or reduced their stakes in PD. Legal & General Group Plc lifted its stake in shares of PagerDuty by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 75,993 shares of the company's stock worth $1,883,000 after buying an additional 2,967 shares during the last quarter. ExodusPoint Capital Management LP increased its position in PagerDuty by 97.9% during the second quarter. ExodusPoint Capital Management LP now owns 19,747 shares of the company's stock worth $489,000 after acquiring an additional 9,770 shares during the period. Walleye Capital LLC bought a new position in PagerDuty during the second quarter worth about $268,000. Goldman Sachs Group Inc. increased its holdings in PagerDuty by 8.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,187,161 shares of the company's stock valued at $29,417,000 after buying an additional 87,497 shares during the period. Finally, Captrust Financial Advisors increased its holdings in PagerDuty by 755.3% in the 2nd quarter. Captrust Financial Advisors now owns 4,302 shares of the company's stock valued at $107,000 after buying an additional 3,799 shares during the period. Institutional investors and hedge funds own 92.58% of the company's stock.
About PagerDuty
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PagerDuty, Inc operates a digital operations management platform in the United States, Japan, and internationally. Its digital operations management platform collects data digital signals from virtually any software-enabled system or device, and leverage powerful machine learning to correlate, process, and predict opportunities and issues.
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