These Analysts Cut Their Forecasts On PagerDuty After Q3 Results

Core Insights - PagerDuty reported mixed third-quarter financial results, with earnings per share (EPS) of 33 cents beating the analyst consensus estimate of 25 cents, but quarterly sales of $124.545 million missing the estimate of $125.034 million [1] - The company issued fourth-quarter guidance for adjusted EPS of 24 to 25 cents, aligning with market estimates, but projected sales of $122 million to $124 million, below the estimate of $127.295 million [2] - PagerDuty's CEO highlighted the company's strong position with product leadership, a solid balance sheet, and robust free cash flow, despite a 25.5% drop in share price to $11.31 following the earnings announcement [3] Financial Performance - Quarterly earnings were reported at 33 cents per share, exceeding the consensus estimate of 25 cents [1] - Quarterly sales reached $124.545 million, falling short of the analyst consensus estimate of $125.034 million [1] - Fourth-quarter adjusted EPS guidance is set at 24 to 25 cents, with sales projections between $122 million and $124 million, both below market expectations [2] Analyst Ratings and Price Targets - RBC Capital maintained an Outperform rating but lowered the price target from $18 to $17 [6] - Morgan Stanley kept an Equal-Weight rating while reducing the price target from $17 to $16 [6] - TD Cowen maintained a Buy rating but slashed the price target from $22 to $20 [6]