Pagerduty (NYSE:PD) Price Target Cut to $43.00 by Analysts at Royal Bank of Canada

Pagerduty (NYSE:PD) had its price objective reduced by analysts at Royal Bank of Canada to $43.00 in a research report issued on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 67.64% from the company’s current price.

Other equities research analysts also recently issued reports about the company. KeyCorp reiterated a “hold” rating on shares of Pagerduty in a report on Friday, September 6th. Zacks Investment Research cut Pagerduty from a “hold” rating to a “sell” rating in a report on Saturday, November 16th. ValuEngine downgraded shares of Pagerduty from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. SunTrust Banks began coverage on shares of Pagerduty in a research note on Wednesday, October 2nd. They set a “hold” rating and a $32.00 price objective on the stock. Finally, DA Davidson assumed coverage on shares of Pagerduty in a research report on Friday, August 16th. They set a “neutral” rating and a $36.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Pagerduty presently has an average rating of “Buy” and an average target price of $33.93.

NYSE:PD traded up $0.09 during mid-day trading on Wednesday, hitting $25.65. The company had a trading volume of 27,720 shares, compared to its average volume of 740,520. The business has a fifty day simple moving average of $24.55 and a 200-day simple moving average of $37.38. Pagerduty has a 1 year low of $21.72 and a 1 year high of $59.82.

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

In related news, VP Steven Chung sold 50,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $26.51, for a total value of $1,325,500.00. Insiders sold 101,000 shares of company stock valued at $2,654,760 in the last three months.

A number of hedge funds have recently bought and sold shares of PD. California State Teachers Retirement System raised its position in shares of Pagerduty by 2.7% in the 3rd quarter. California State Teachers Retirement System now owns 16,400 shares of the company’s stock valued at $463,000 after purchasing an additional 433 shares in the last quarter. 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 acquired a new stake in shares of Pagerduty during the second quarter worth approximately $85,000. Tower Research Capital LLC TRC acquired a new stake in shares of Pagerduty during the third quarter worth approximately $63,000. Finally, Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Pagerduty during the second quarter worth approximately $113,000. Institutional investors own 54.00% of the company’s stock.

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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