PagerDuty Inc. (PD) Has Incremental Positives After Management NDR - Baird

Baird analyst Rob Oliver reiterated an Outperform rating and $34.00 price target on PagerDuty (NYSE: PD) following an NDR with the CFO and VP IR. The analyst cited competition as a focus area, current trends have a few moving parts, digital transformation, and increasing complexity.

The analyst stated "Yesterday we hosted PagerDuty CFO Howard Wilson and VP IR Stacey Finerman for a series of virtual NDR meetings. Investor interest centered around a competitive environment, current business trends, and recent management hires. Overall, we believe PagerDuty is improving its execution and experiencing a benefit from the “new normal” of hybrid work environments and an increasing focus on digital initiatives. With the stock at 8.5x NTM EV/Sales (compared to >25% growth peers at ~12x) we believe current levels represent an attractive buying opportunity."

For an analyst ratings summary and ratings history on PagerDuty click here. For more ratings news on PagerDuty click here.

Shares of PagerDuty closed at $28.62 yesterday.

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