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Benzinga
Benzinga
Business
Adam Eckert

Why PagerDuty Shares Are Rising Today

PagerDuty Inc (NYSE:PD) shares are trading higher Thursday after the company reported better-than-expected financial results and issued guidance.

PagerDuty said fourth-quarter revenue increased 32% year-over-year to $78.5 million, which beat the $76.08 million estimate. The company reported a quarterly earnings loss of 4 cents per share, which beat the estimate for a loss of 6 cents per share.

PagerDuty expects first-quarter revenue to be between $81.5 million and $83.5 million versus the $80.2 million estimate. The company expects to record an adjusted earnings loss between 8 and 9 cents per share versus the estimate for a loss of 6 cents per share.

Analyst Assessment: 

  • RBC Capital analyst Matthew Hedberg maintained PagerDuty with an Outperform rating and raised the price target from $45 to $46.
  • Morgan Stanley maintained PagerDuty with an Equal-Weight rating and lowered the price target from $54 to $49.
  • Monness, Crespi, Hardt analyst Brian White maintained PagerDuty with a Buy rating and raised the price target from $40 to $44.

See Also: What's Driving The Action In Occidental Petroleum Shares Today?

PD 52-Week Range: $24.02 - $50.33

The stock was up 14.2% at $30.66 at time of publication.

Photo: Pexels from Pixabay.

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