PagerDuty (NYSE:PD) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS

PagerDuty (NYSE:PD) announced its quarterly earnings results on Thursday. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08, FiscalAI reports. The business had revenue of $120.97 million during the quarter, compared to analyst estimates of $119.52 million. PagerDuty had a net margin of 35.30% and a return on equity of 16.29%.

PagerDuty Stock Performance

Shares of PD stock traded up $0.24 during trading hours on Thursday, hitting $7.43. 2,533,577 shares of the company were exchanged, compared to its average volume of 2,844,291. The firm has a fifty day simple moving average of $6.65 and a 200 day simple moving average of $9.49. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 1.56. PagerDuty has a 52-week low of $5.70 and a 52-week high of $18.00. The stock has a market capitalization of $631.48 million, a price-to-earnings ratio of 4.04, a P/E/G ratio of 3.19 and a beta of 0.78.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PD. Truist Financial cut their price target on PagerDuty from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Wall Street Zen lowered shares of PagerDuty from a “buy” rating to a “hold” rating in a research note on Monday. Canaccord Genuity Group lowered their target price on shares of PagerDuty from $19.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 13th. Royal Bank Of Canada lowered their target price on shares of PagerDuty from $9.00 to $8.00 and set a “sector perform” rating for the company in a report on Friday, March 13th. Finally, William Blair reiterated a “market perform” rating on shares of PagerDuty in a report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.78.

Institutional Investors Weigh In On PagerDuty

Several large investors have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of PagerDuty by 24.3% during the 4th quarter. Invesco Ltd. now owns 133,179 shares of the company’s stock worth $1,746,000 after purchasing an additional 26,000 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in PagerDuty in the 4th quarter worth about $191,000. XTX Topco Ltd increased its holdings in PagerDuty by 713.4% in the 4th quarter. XTX Topco Ltd now owns 223,095 shares of the company’s stock worth $2,925,000 after acquiring an additional 195,667 shares during the last quarter. Zacks Investment Management increased its holdings in PagerDuty by 44.4% in the 4th quarter. Zacks Investment Management now owns 110,618 shares of the company’s stock worth $1,450,000 after acquiring an additional 33,991 shares during the last quarter. Finally, VARCOV Co. purchased a new stake in PagerDuty in the 4th quarter worth about $1,357,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

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.