PagerDuty (NYSE:PD) Announces Earnings Results

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

PagerDuty Stock Performance

Shares of NYSE:PD traded up $0.24 on Thursday, hitting $7.43. The company had a trading volume of 2,690,309 shares, compared to its average volume of 2,852,034. PagerDuty has a 1-year low of $5.70 and a 1-year high of $18.00. The stock has a market cap 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. The stock has a 50 day moving average price of $6.65 and a 200 day moving average price 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.

Analyst Ratings Changes

Several brokerages recently commented on PD. Morgan Stanley set a $9.00 target price on shares of PagerDuty in a report on Thursday, February 19th. William Blair restated a “market perform” rating on shares of PagerDuty in a report on Friday, March 13th. Wall Street Zen cut shares of PagerDuty from a “buy” rating to a “hold” rating in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of PagerDuty in a report on Friday, May 22nd. Finally, TD Cowen reduced their target price on shares of PagerDuty from $20.00 to $10.00 and set a “buy” rating for the company in a report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.78.

Hedge Funds Weigh In On PagerDuty

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of PagerDuty by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,113,117 shares of the company’s stock valued at $27,708,000 after purchasing an additional 58,881 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of PagerDuty by 333.2% in the third quarter. Ameriprise Financial Inc. now owns 1,450,429 shares of the company’s stock valued at $23,961,000 after purchasing an additional 1,115,577 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of PagerDuty by 0.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,092,963 shares of the company’s stock valued at $14,329,000 after purchasing an additional 3,276 shares during the last quarter. Millennium Management LLC increased its holdings in shares of PagerDuty by 55.4% in the first quarter. Millennium Management LLC now owns 1,005,111 shares of the company’s stock valued at $18,363,000 after purchasing an additional 358,347 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of PagerDuty by 184.1% in the third quarter. Two Sigma Investments LP now owns 855,831 shares of the company’s stock valued at $14,138,000 after purchasing an additional 554,611 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

About PagerDuty

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.