() updated its earnings guidance for the second quarter of 2024 on Wednesday. The company gave a guidance for EPS of $0.10 to $0.11, compared with the consensus estimate of $0.09 The company provided revenue guidance between $103.50 and $105.50 million, which is lower than the consensus estimate of $108.60 millions. PagerDuty updated its FY2024 guidance at $0.60-$0.65 per share.
Wall Street analysts weigh in
A number of analysts have made comments on the stock. Morgan Stanley raised their price target on shares of PagerDuty to $37.00 in a research report on Thursday, 16th March. The stock was also given an overweight rating. Robert W. Baird reduced their price target on shares of PagerDuty in a Friday, June 2nd research note from $35.00 down to $32.00. Royal Bank of Canada reduced their price target on shares of PagerDuty in a Friday, 2nd research note from $37.00 down to $32.00. Craig Hallum lowered shares of PagerDuty's rating from buy to hold and set a price target for the company at $26.00. In a research report published on Friday, 2nd June. Eight investment analysts gave the stock a buy recommendation, while two have given it a hold recommendation. Trading at midday on Wednesday saw a $0.50 decline, bringing the stock price to $22.43. The company's shares changed hands in 2,471,196, as opposed to the average volume of 1,475,077. The company's debt-to equity ratio is 1.12; its quick ratio is 2.21 and its current ratio, 2.41. The market cap is $2.07 billion. It has a PE of -18.69, and a beta value of 0.93. The company's two hundred day moving price is $28.45 and its fifty day average price of $30.11. PagerDuty's twelve-month low is $19.51 while its twelve-month high is $35.33.
The company last announced its earnings on Thursday, 1st June. The company posted $0.20 per share in earnings for the first quarter, exceeding the consensus estimate by $0.09 by $0.11. Revenue for the quarter was $103.25m, which is higher than analyst expectations of $103.25m. PagerDuty's negative net margin was 27.74%, and its negative return on equity was 35.07%. Revenue for the business was up by 20.9% year-over-year. In the same quarter of the prior year, PagerDuty posted a ($0.33) earnings per share. Analysts expect PagerDuty to post an average of -0.76 earnings per share for the current fiscal period.
PagerDuty Insider Activities
On Friday, 31st March, the company sold 23,165 of its shares. The shares were purchased at an average of $35.04 for a value of $811 701.60. After the transaction, the director owns 15,244 company shares, worth approximately $534 149.76. On Friday, 31st March, the company sold 23,165 of its shares. The shares were purchased at an average of $35.04 for a value of $811 701.60. After the transaction, the director owns 15,244 company shares, worth approximately $534,149.76. Shelley Webb, SVP, sold 1,983 of the company's shares in a deal on Monday, 3rd April. The stock was bought at a price of $33.62 on average, for a transaction totaling $66,668.46. After the completion of this transaction, the senior executive vice president owns approximately $7,707 048.80 worth of shares. Insiders sold 253,605 company shares worth $7,934,700 in the past 90 days. Insiders own 7.90%.
PagerDuty: Institutional investors weigh in
Recent changes in the holdings of hedge funds and institutional investors has been observed. PNC Financial Services Group Inc. increased the number of shares it held in PagerDuty in the first quarter by 270.8%. PNC Financial Services Group Inc. owns 1,572 of the company stock, worth $53,000. This is after buying an additional 1,148 during the last quarter. Point72 Hong Kong Ltd purchased a new share of PagerDuty during the second quarter, worth approximately $50,000. Federated Hermes Inc. purchased a new share of PagerDuty during the third quarter, worth approximately $50,000. Penserra Capital Management LLC grew its holdings in PagerDuty shares by 50.0% during the first quarter. Penserra Capital Management LLC owns 3,564 shares of PagerDuty stock, worth $121,000. This is after buying 1,188 additional shares in the last quarter. Captrust Financial Advisors also increased its holdings in PagerDuty shares by 755.3% during the second quarter. Captrust Financial Advisors owns 4,302 of the company’s shares worth $107,000, after buying an additional 3,799 during the last quarter. Institutional investors hold 90.66% the company's shares.
PagerDuty, Inc is a digital management platform. It offers an incident management system that integrates into monitoring stacks for DevOps and Information Technology Ops, improving operational reliability and agility. The company collects machine-generated data from any software-enabled device or system, combines it with human response information, and correlates and interprets this data in order to understand the issues and opportunities which need to be addressed real-time.
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