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

Pagerduty (NYSE:PD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, 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 brokerages have also issued reports on PD. BTIG Research increased their target price on shares of Paypal from $114.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. They noted that the move was a valuation call. Royal Bank of Canada lowered their price objective on shares of Toromont Industries from C$66.00 to C$65.00 and set a “sector perform” rating on the stock in a report on Monday, May 6th. William Blair reiterated an “outperform” rating on shares of Aileron Therapeutics in a report on Monday, May 6th. Piper Jaffray Companies set a $10.00 target price on shares of Mammoth Energy Services and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Morgan Stanley increased their price target on shares of Sonic Automotive from $10.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Pagerduty has an average rating of “Hold” and an average price target of $42.50.

Shares of NYSE:PD traded down $1.12 during midday trading on Tuesday, hitting $49.40. The stock had a trading volume of 621,741 shares, compared to its average volume of 578,097. The stock has a 50-day moving average price of $50.99. Pagerduty has a fifty-two week low of $36.00 and a fifty-two week high of $59.82.

Pagerduty (NYSE:PD) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. The company had revenue of $25.00 million for the quarter, compared to analyst estimates of $34.92 million. During the same quarter in the prior year, the company earned $37.30 earnings per share. On average, sell-side analysts forecast that Pagerduty will post -0.37 EPS for the current fiscal year.

In other news, insider Dan Alexandru Solomon sold 342,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.32, for a total transaction of $7,633,440.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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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