Short Interest in PagerDuty (NYSE:PD) Drops By 14.4%

PagerDuty (NYSE:PD) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 9,704,178 shares, a decrease of 14.4% from the February 26th total of 11,341,921 shares. Currently, 12.4% of the shares of the stock are short sold. Based on an average trading volume of 3,620,060 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of PagerDuty from $12.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 13th. Canaccord Genuity Group lowered their price objective on shares of PagerDuty from $19.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Royal Bank Of Canada dropped their price objective on shares of PagerDuty from $9.00 to $8.00 and set a “sector perform” rating for the company in a research note on Friday, March 13th. William Blair restated a “market perform” rating on shares of PagerDuty in a report on Friday, March 13th. Finally, Wall Street Zen cut shares of PagerDuty from a “buy” rating to a “hold” rating in a research report on Monday. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.40.

PagerDuty Stock Performance

NYSE:PD opened at $6.34 on Thursday. The stock’s fifty day moving average is $7.70 and its 200 day moving average is $12.01. PagerDuty has a fifty-two week low of $5.91 and a fifty-two week high of $18.51. The firm has a market capitalization of $538.34 million, a PE ratio of 3.44, a PEG ratio of 2.76 and a beta of 0.73. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.01 and a current ratio of 2.01.

PagerDuty (NYSE:PD) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. PagerDuty had a net margin of 35.30% and a return on equity of 16.29%. The company had revenue of $124.79 million during the quarter, compared to analyst estimates of $122.96 million. During the same period in the previous year, the firm earned $0.22 earnings per share. PagerDuty’s quarterly revenue was up 2.7% compared to the same quarter last year. PagerDuty has set its Q1 2027 guidance at 0.230-0.250 EPS and its FY 2027 guidance at 1.230-1.280 EPS. On average, sell-side analysts anticipate that PagerDuty will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On PagerDuty

Several hedge funds have recently added to or reduced their stakes in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of PagerDuty by 78.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 323,951 shares of the company’s stock valued at $5,352,000 after buying an additional 142,232 shares during the period. ARK Investment Management LLC raised its holdings in shares of PagerDuty by 2.6% in the third quarter. ARK Investment Management LLC now owns 8,827,404 shares of the company’s stock worth $145,829,000 after buying an additional 224,769 shares during the period. Vanguard Group Inc. raised its holdings in shares of PagerDuty by 17.1% in the third quarter. Vanguard Group Inc. now owns 12,593,954 shares of the company’s stock worth $208,052,000 after buying an additional 1,840,407 shares during the period. SG Americas Securities LLC bought a new stake in shares of PagerDuty during the 3rd quarter worth approximately $4,312,000. Finally, Readystate Asset Management LP bought a new stake in shares of PagerDuty during the 3rd quarter worth approximately $15,946,000. 97.26% of the stock is currently owned by institutional investors.

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.