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, 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 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.

Further Reading: Is it Safe to Invest in Commodities?

Get a free copy of the Zacks research report on Pagerduty (PD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Pagerduty (NYSE:PD)

Receive News & Ratings for Pagerduty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pagerduty and related companies with MarketBeat.com's FREE daily email newsletter.