Stocks of PagerDuty Inc. (PD) are poised to climb above their peers

PagerDuty Inc. (NYSE: PD) stock jumped 4.02% on Wednesday to $22.00 against a previous-day closing price of $21.15. With 0.78 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.92 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $22.31 whereas the lowest price it dropped to was $20.97. The 52-week range on PD shows that it touched its highest point at $38.75 and its lowest point at $19.51 during that stretch. It currently has a 1-year price target of $33.94. Beta for the stock currently stands at 1.06.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PD was down-trending over the past week, with a drop of -7.09%, but this was down by -12.87% over a month. Three-month performance dropped to -19.41% while six-month performance fell -5.62%. The stock lost -38.91% in the past year, while it has lost -36.69% so far this year. A look at the trailing 12-month EPS for PD yields -1.46 with Next year EPS estimates of 0.07. For the next quarter, that number is -0.04. This implies an EPS growth rate of -46.90% for this year and 163.60% for next year.

Float and Shares Shorts:

At present, 88.15 million PD shares are outstanding with a float of 81.38 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.6 million, which was 8.52% higher than short shares on Sep 14, 2022. In addition to Ms. Jennifer G. Tejada as the firm’s CEO & Chair of the Board, Mr. Dan Alexandru Solomon serves as its Co-Founder, GM of Workflow & Director.

Institutional Ownership:

Through their ownership of 88.49% of PD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.56% of PD, in contrast to 34.86% held by mutual funds. Shares owned by individuals account for 29.61%. As the largest shareholder in PD with 12.14% of the stake, ARK Investment Management LLC holds 10,821,427 shares worth 10,821,427. A second-largest stockholder of PD, The Vanguard Group, Inc., holds 7,260,960 shares, controlling over 8.14% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PD, holding 5,726,521 shares or 6.42% stake. With a 8.84% stake in PD, the ARK Innovation ETF is the largest stakeholder. A total of 7,881,409 shares are owned by the mutual fund manager. The ClearBridge Small Cap Growth Fund, which owns about 3.31% of PD stock, is the second-largest Mutual Fund holder. It holds 2,950,464 shares valued at 73.58 million. Janus Henderson Triton Fund holds 3.16% of the stake in PD, owning 2,817,109 shares worth 70.26 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PD since 11 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PD analysts setting a high price target of $38.00 and a low target of $30.00, the average target price over the next 12 months is $33.61. Based on these targets, PD could surge 72.73% to reach the target high and rise by 36.36% to reach the target low. Reaching the average price target will result in a growth of 52.77% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PD will report FY 2023 earnings on 03/16/2023. Analysts have provided yearly estimates in a range of -$0.08 being high and -$0.13 being low. For PD, this leads to a yearly average estimate of -$0.11. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. PagerDuty Inc. surprised analysts by $0.04 when it reported -$0.04 EPS against a consensus estimate of -$0.08. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.02 and the low estimate is -$0.04. The average estimate for the next quarter is thus -$0.04.

Summary of Insider Activity:

Insiders traded PD stock several times over the past three months with 3 Buys and 18 Sells. In these transactions, 161,548 shares were bought while 267,018 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 99 over the past year. The total number of shares bought during that period was 1,840,830 while 1,412,781 shares were sold.

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