Share Repurchase Plan Announced by PagerDuty (NYSE:PD)

PagerDuty (NYSE:PD) announced that its board has authorized a share repurchase plan on Thursday, March 13th, RTT News reports. The company plans to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

PagerDuty Stock Performance

Shares of PD opened at $18.41 on Friday. The business’s fifty day simple moving average is $18.24 and its two-hundred day simple moving average is $18.68. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty has a 12 month low of $15.49 and a 12 month high of $23.85. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -23.01 and a beta of 1.12.

PagerDuty (NYSE:PD) last issued its earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. Research analysts anticipate that PagerDuty will post -0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PD has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday. 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 report on Thursday, January 30th. Finally, Truist Financial lowered their price target on PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.73.

Insider Activity

In related news, CEO Jennifer Tejada sold 1,569 shares of the firm’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 of the company’s stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the transaction, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. 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 ninety days. 7.60% of the stock is currently owned by company insiders.

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.