BofA Securities Starts PagerDuty (PD) at Buy, 'Turnaround story'

BofA Securities analyst Koji Ikeda initiates coverage on PagerDuty (NYSE: PD) with a Buy rating and a price target of $30.00.

The analyst comments "We initiate coverage of PagerDuty (PD) with a $30 PO, implying potential upside of 34%. PD is a market-leading incident management software platform that helps businesses troubleshoot everything from cyber-attacks to computer glitches. Recent macro-related challenges have pressured revenue growth and the stock trades at a 43% discount to infrastructure software peers (4.3x EV/CY24E revs vs 7.6x), but we think PD is poised to outperform as it improves execution and accelerates growth over the next 12 months."

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 $22.45 yesterday.

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