Pagerduty Inc (NYSE:PD) shot up 14.6% during mid-day trading on Wednesday . The stock traded as high as $31.50 and last traded at $31.47, 1,588,612 shares changed hands during trading. An increase of 140% from the average session volume of 663,154 shares. The stock had previously closed at $27.45.

Several brokerages have recently issued reports on PD. Zacks Investment Research upgraded Pagerduty from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday. Canaccord Genuity restated a “buy” rating on shares of Pagerduty in a research report on Tuesday, July 9th. Raymond James restated a “buy” rating and issued a $4.75 target price on shares of Pagerduty in a research report on Friday, July 26th. KeyCorp restated a “hold” rating on shares of Pagerduty in a research report on Friday, September 6th. Finally, Piper Jaffray Companies upped their target price on Pagerduty from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.14.

The business has a 50-day moving average of $37.54.

Pagerduty (NYSE:PD) last released its earnings results on Thursday, September 5th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.12. The firm had revenue of $40.40 million during the quarter, compared to analyst estimates of $39.12 million. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, research analysts anticipate that Pagerduty Inc will post -0.75 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Pagerduty during the 2nd quarter valued at $70,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Pagerduty during the 2nd quarter valued at $85,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Pagerduty during the 2nd quarter valued at $113,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Pagerduty during the 2nd quarter valued at $157,000. Finally, Scotia Capital Inc. acquired a new stake in shares of Pagerduty during the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 49.47% of the company’s stock.

About Pagerduty (NYSE:PD)

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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