PagerDuty (NYSE:PD) Shares Gap Down – Here’s What Happened

PagerDuty (NYSE:PD) gapped down prior to trading on Tuesday . The stock had previously closed at $10.34, but opened at $9.75. PagerDuty shares last traded at $9.5480, with a volume of 302,576 shares trading hands.

Analysts Set New Price Targets

PD has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their target price on PagerDuty from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Truist Financial raised their price objective on shares of PagerDuty from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Wall Street Zen raised PagerDuty from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Royal Bank Of Canada lifted their price target on shares of PagerDuty from $8.00 to $9.00 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Finally, Morgan Stanley cut shares of PagerDuty from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $10.00 to $9.00 in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

PagerDuty Trading Down 6.0%

The company has a 50-day simple moving average of $9.00 and a 200-day simple moving average of $8.35. The stock has a market cap of $680.74 million, a P/E ratio of 4.33, a P/E/G ratio of 2.41 and a beta of 0.94. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.95 and a current ratio of 1.95.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.08. PagerDuty had a net margin of 38.60% and a return on equity of 18.20%. The firm had revenue of $120.97 million for the quarter, compared to analyst estimates of $119.52 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue was up 1.0% on a year-over-year basis. PagerDuty has set its Q2 2027 guidance at 0.290-0.310 EPS. On average, sell-side analysts forecast that PagerDuty will post 0.58 EPS for the current fiscal year.

PagerDuty announced that its board has approved a stock buyback plan on Thursday, May 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 16.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of PagerDuty by 3.8% in the 4th 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 period. Y Intercept Hong Kong Ltd lifted its holdings in shares of PagerDuty by 801.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 206,701 shares of the company’s stock valued at $1,284,000 after purchasing an additional 183,770 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in PagerDuty by 51.1% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 18,014 shares of the company’s stock valued at $236,000 after buying an additional 6,092 shares in the last quarter. KBC Group NV lifted its position in PagerDuty by 89.5% in the 4th quarter. KBC Group NV now owns 4,402 shares of the company’s stock valued at $58,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of PagerDuty by 15.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 30,655 shares of the company’s stock valued at $402,000 after purchasing an additional 4,146 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.