Zacks Investment Research Lowers Pagerduty (NYSE:PD) to Sell

Zacks Investment Research cut shares of Pagerduty (NYSE:PD) from a buy rating to a sell rating in a report published 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. “

Several other research firms also recently issued reports on PD. KeyCorp restated a hold rating on shares of Pagerduty in a research note on Friday, September 6th. TD Securities upgraded Pagerduty to a top pick rating and reduced their price target for the company from $5.00 to $4.50 in a research note on Wednesday, September 4th. Raymond James restated a strong-buy rating and issued a $4.75 price target on shares of Pagerduty in a research note on Friday, October 25th. ValuEngine downgraded Pagerduty from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, SunTrust Banks assumed coverage on Pagerduty in a research note on Wednesday, October 2nd. They issued a hold rating and a $32.00 price target for the company. One investment 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 stock. The company presently has a consensus rating of Buy and a consensus price target of $34.48.

PD traded down $0.03 during trading on Thursday, hitting $22.34. The stock had a trading volume of 618,087 shares, compared to its average volume of 738,892. The company has a 50 day moving average price of $25.97 and a 200-day moving average price of $39.96. Pagerduty has a one year low of $21.72 and a one year high of $59.82.

Pagerduty (NYSE:PD) last released its quarterly earnings results on Thursday, September 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.12. The firm had revenue of $40.40 million during the quarter, compared to the consensus estimate of $39.12 million. The business’s revenue was up 45.8% on a year-over-year basis. Equities analysts anticipate that Pagerduty will post -0.76 earnings per share for the current fiscal year.

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

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Pagerduty during the 2nd quarter worth $70,000. NumerixS Investment Technologies Inc acquired a new position in shares of Pagerduty during the 2nd quarter worth $85,000. Tower Research Capital LLC TRC acquired a new position in shares of Pagerduty during the 3rd quarter worth $63,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Pagerduty during the 2nd quarter worth $113,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Pagerduty during the 2nd quarter worth $157,000. 49.33% of the stock is owned by institutional investors.

About Pagerduty

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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