PagerDuty Inc. (NYSE: PD): Hunting Genuine Value In Market Debris

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    ARK Investment Management LLC recently announced the acquisition of new stake in PagerDuty Inc. (NYSE:PD). The institutional investor has increased its shareholding in the Technology company by 99.36% to 5.2 million shares with purchase of 2.59 million shares. This fresh investment now brings its stake to 6.61% valued currently at $158.45 million. In addition, Nikko Asset Management Americas,.. raised its holdings by 1.71 million to 3.45 million shares.

    With over 4.22 million PagerDuty Inc. (PD) shares trading Tuesday and a closing price of $36.65 on the day, the dollar volume was approximately $154.75 million. The shares have shown a positive weekly performance of 26.64% and its price on 09/01/20 gained nearly 12.18%. Currently, there are 77.77M common shares owned by the public and among those 64.60M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for PD have a consensus price objective of $30.71. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $20.00 should the stock experience a downside. Incidentally, analysts’ outlook for the PagerDuty Inc. stock is 2.00 for the next 12 months. The average price target is -20.16% below its last price level and a downside to the estimated low will see the stock lose -83.25% over that period. But an upside of -4.71% will see the stock hit the forecast high price target while mean target price for the stock is $34.00.

    Insiders at the company have transacted a total of 110 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 1,448,341 shares. Insider sales of the common stock occurred on 73 occasions, with total insider shares sold totaling 20,358,404 shares.

    The top 3 mutual fund holders in PagerDuty Inc. are ARK Innovation ETF, Janus Henderson Triton Fund, and American Century Growth Fund. ARK Innovation ETF owns 3.68 million shares of the company’s stock, all valued at over $112.22 million. The company bought an additional 39321.0 shares recently to bring their total holdings to about 4.68% of the shares outstanding. American Century Growth Fund bought 0.42 million shares to bring its total holdings to over 1.77 million shares at a value of $54.1 million. American Century Growth Fund now owns shares totaling to 2.26% of the shares outstanding.

    Shares of PagerDuty Inc. (NYSE: PD) opened at $34.00, up $1.33 from a prior closing price of $32.67. However, the script later closed the day at $36.65, up 12.18%. The company’s stock has a 5-day price change of 26.64% and 29.41% over the past three months. PD shares are trading 56.69% year to date (YTD), with the 12-month market performance down to -2.45% lower. It has a 12-month low price of $12.33 and touched a high of $39.58 over the same period. Currently, 4.22 million shares have been traded, compared to an average intraday trading volume of 1.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 22.87%, 26.40%, and 50.83% respectively.

    Institutional ownership of PagerDuty Inc. (NYSE: PD) shares accounts for 73.80% of the company’s 77.77M shares outstanding. Mutual fund holders own 31.94%, while other institutional holders and individual stakeholders account for 37.31% and 31.03% respectively.

    It has a market capitalization of $2.85B. The earnings-per-share (ttm) stands at -$0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.29% over the week and 5.36% over the month.

    Analysts forecast that PagerDuty Inc. (PD) will achieve an EPS of -$0.07 for the current quarter, -$0.09 for the next quarter and -$0.19 for 2022. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -38.80%, and 29.60% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate PagerDuty Inc. (PD) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the PD, a number of firms have released research notes about the stock. Monness Crespi & Hardt stated their Buy rating for the stock in a research note on July 20, 2020, with the firm’s price target at $35. Morgan Stanley coverage for the PagerDuty Inc. (PD) stock in a research note released on October 16, 2019 offered a Equal-Weight rating with a price target of $34. Robert W. Baird was of a view on October 15, 2019 that the stock is Outperform, while SunTrust gave the stock Hold rating on October 03, 2019, issuing a price target of. DA Davidson on their part issued Neutral rating on August 16, 2019.

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