PagerDuty (NYSE:PD) Posts Earnings Results, Beats Estimates By $0.06 EPS

PagerDuty (NYSE:PD) posted its quarterly earnings data on Thursday. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06, Briefing.com reports. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same period in the previous year, the company posted $0.17 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis.

PagerDuty Stock Up 17.9 %

Shares of PD opened at $18.41 on Friday. The company has a market capitalization of $1.66 billion, a P/E ratio of -23.01 and a beta of 1.12. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. PagerDuty has a one year low of $15.49 and a one year high of $23.85. The business’s 50 day simple moving average is $18.24 and its 200-day simple moving average is $18.69.

PagerDuty declared that its Board of Directors has approved a stock repurchase program on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PD has been the topic of several research reports. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and lowered their price target for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Royal Bank of Canada lowered their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday. The Goldman Sachs Group lowered their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. Canaccord Genuity Group lowered their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 price objective on shares of PagerDuty in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.73.

Insider Transactions at PagerDuty

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at approximately $17,366,220. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,048 shares of company stock valued at $186,699 in the last three months. 7.60% of the stock is owned by corporate insiders.

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.