PagerDuty Inc. [PD] Stock trading around $30.71 per share: What’s Next?

PagerDuty Inc. [NYSE: PD] stock went on an upward path that rose over 0.75% on Monday, amounting to a one-week price increase of more than 9.60%. The company report on June 23, 2020 that PagerDuty Announces Pricing of $250 Million Convertible Senior Notes Offering.

PagerDuty, Inc. (NYSE: PD) today announced the pricing of $250 million principal amount of 1.25% Convertible Senior Notes due 2025 (the “notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). PagerDuty also granted the initial purchasers of the notes an option to purchase up to an additional $37.5 million principal amount of notes. The sale of the notes is expected to close on June 25, 2020, subject to customary closing conditions.

The notes will be senior unsecured obligations of PagerDuty and will accrue interest payable semiannually in arrears on January 1 and July 1 of each year, beginning on January 1, 2021, at a rate of 1.25% per year. The notes will mature on July 1, 2025 unless earlier converted, redeemed or repurchased. The initial conversion rate of the notes will be 24.9507 shares of PagerDuty’s common stock per $1,000 principal amount of such notes (equivalent to an initial conversion price of approximately $40.08 per share). The initial conversion price of the notes represents a premium of approximately 30.0% over the last reported sale price of PagerDuty’s common stock on the New York Stock Exchange on June 22, 2020. The notes will be convertible into cash, shares of PagerDuty’s common stock or a combination of cash and shares of PagerDuty’s common stock, at PagerDuty’s election.

Over the last 12 months, PD stock dropped by -22.12%. The one-year PagerDuty Inc. stock forecast points to a potential downside of -0.69. The average equity rating for PD stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.37 billion, with 77.77 million shares outstanding and 64.34 million shares in the current float. Compared to the average trading volume of 1.73M shares, PD stock reached a trading volume of 1144876 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on PagerDuty Inc. [PD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PD shares is $30.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Monness Crespi & Hardt have made an estimate for PagerDuty Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 20, 2020. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $43 to $34. The new note on the price target was released on October 16, 2019, representing the official price target for PagerDuty Inc. stock. Previously, the target price had yet another raise to $31, while Robert W. Baird analysts kept a Outperform rating on PD stock.

The Average True Range (ATR) for PagerDuty Inc. is set at 1.29, with the Price to Sales ratio for PD stock in the period of the last 12 months amounting to 13.26. The Price to Book ratio for the last quarter was 7.77, with the Price to Cash per share for the same quarter was set at 4.54. Price to Free Cash Flow for PD in the course of the last twelve months was 4743.47 with Quick ratio for the last quarter at 3.30.

PD Stock Performance Analysis:

PagerDuty Inc. [PD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.60. With this latest performance, PD shares gained by 2.33% in over the last four-week period, additionally plugging by 30.79% over the last 6 months – not to mention a drop of -22.12% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PD stock in for the last two-week period is set at 64.51, with the RSI for the last a single of trading hit 72.31, and the three-weeks RSI is set at 61.14 for PagerDuty Inc. [PD]. The present Moving Average for the last 50 days of trading for this stock 27.95, while it was recorded at 29.84 for the last single week of trading, and 23.67 for the last 200 days.

Insight into PagerDuty Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and PagerDuty Inc. [PD] shares currently have an operating margin of -33.40 and a Gross Margin at +85.22. PagerDuty Inc.’s Net Margin is presently recorded at -30.26.

Return on Total Capital for PD is now -26.97, given the latest momentum, and Return on Invested Capital for the company is -24.43. Return on Equity for this stock declined to -24.43, with Return on Assets sitting at -15.91.

Reflecting on the efficiency of the workforce at the company, PagerDuty Inc. [PD] managed to generate an average of -$75,245 per employee. Receivables Turnover for the company is 4.75 with a Total Asset Turnover recorded at a value of 0.53.PagerDuty Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.

PD Stock EPS

With the latest financial reports released by the company, PagerDuty Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PagerDuty Inc. go to 30.00%.

PagerDuty Inc. [PD] Insider Position Details

There are presently around $1,649 million, or 63.20% of PD stock, in the hands of institutional investors. The top three institutional holders of PD stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 6,971,458, which is approximately -4.478% of the company’s market cap and around 6.20% of the total institutional ownership; DEER VIII & CO. LTD., holding 5,311,946 shares of the stock with an approximate value of $163.13 million in PD stocks shares; and ACCEL GROWTH FUND IV ASSOCIATES L.L.C., currently with $141.45 million in PD stock with ownership of nearly 0% of the company’s market capitalization.

121 institutional holders increased their position in PagerDuty Inc. [NYSE:PD] by around 13,675,482 shares. Additionally, 63 investors decreased positions by around 12,273,396 shares, while 14 investors held positions by with 27,760,323 shares. The mentioned changes placed institutional holdings at 53,709,201 shares, according to the latest SEC report filing. PD stock had 58 new institutional investments in for a total of 8,341,887 shares, while 30 institutional investors sold positions of 9,296,251 shares during the same period.

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