PagerDuty (PD) Witnesses Pessimism From Analysts

Company Overview - PagerDuty, Inc. (NYSE:PD) is a software company focused on enabling businesses to monitor their networks and services for incident response and operations management [2]. Financial Performance - In the third quarter fiscal results reported on November 25th, PagerDuty generated $124.5 million in revenue and a profit of $0.33 per share, which beat analyst estimates of $0.24 but missed revenue estimates of $124.9 million [3]. - Following the earnings report, shares of PagerDuty dipped by 25.7% [3]. Analyst Ratings and Price Targets - Bank of America set a price target of $12 for PagerDuty and downgraded its rating to Underperform, citing factors such as revenue stability, net revenue retention, and billings, while also noting the impact of broader economic issues on the company's performance [2]. - Cannacord Genuity maintained a Buy rating for PagerDuty with a price target of $19, suggesting potential growth if small and medium businesses perform well and large businesses expand their internal operations [3]. Market Context - The company is currently facing challenges due to broader economic woes, including layoffs and budget constraints that have affected its billings [2].