Pagerduty (NYSE:PD) Downgraded by Zacks Investment Research to “Sell”

Pagerduty (NYSE:PD) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Pagerduty Inc. provides digital operations management solutions. The Company offers software as a service based platform PagerDuty, which helps developers, DevOps, information technology operations and business to prevent and resolve business impacting incidents. Pagerduty Inc. is based in San Francisco, United States. “

A number of other research analysts also recently issued reports on PD. Royal Bank of Canada set a $49.00 price target on Pagerduty and gave the company a “buy” rating in a report on Tuesday, September 24th. Morgan Stanley decreased their price target on Pagerduty from $43.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. DA Davidson started coverage on Pagerduty in a report on Friday, August 16th. They issued a “neutral” rating and a $36.00 price target for the company. KeyCorp reissued a “hold” rating on shares of Pagerduty in a report on Friday, September 6th. Finally, TD Securities raised Pagerduty to a “top pick” rating and decreased their price target for the company from $5.00 to $4.50 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $34.48.

Shares of Pagerduty stock traded down $0.03 on Thursday, reaching $22.34. 618,087 shares of the stock were exchanged, compared to its average volume of 738,892. Pagerduty has a twelve month low of $21.72 and a twelve month high of $59.82. The business has a 50 day moving average price of $25.97 and a two-hundred day moving average price of $39.96.

Pagerduty (NYSE:PD) last released its earnings results on Thursday, September 5th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.12. The firm had revenue of $40.40 million for the quarter, compared to analyst estimates of $39.12 million. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. Research analysts anticipate that Pagerduty will post -0.76 EPS for the current fiscal year.

In other Pagerduty news, VP Steven Chung sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $26.51, for a total value of $1,325,500.00.

A number of large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in shares of Pagerduty during the 3rd quarter worth approximately $63,000. Public Employees Retirement System of Ohio purchased a new position in shares of Pagerduty during the 2nd quarter valued at approximately $70,000. NumerixS Investment Technologies Inc purchased a new position in shares of Pagerduty during the 2nd quarter valued at approximately $85,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of Pagerduty during the 2nd quarter valued at approximately $113,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Pagerduty during the 2nd quarter valued at approximately $157,000. 49.33% of the stock is owned by institutional investors.

Pagerduty Company Profile

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

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