TD Cowen Upgrades PagerDuty (PD) to Buy

TD Cowen analyst Andrew Sherman upgraded PagerDuty (NYSE: PD) from Hold to Buy with a price target of $22.00 (from $17.00).

The analyst commented: "We upgrade shares to Buy as we see high likelihood of PD being acquired after Friday's Reuters article. Qatalyst Partners has a strong track record of facilitating software M&A and we've seen many similar situations result in sales over the years. PD trades at only 2.5x EV/CY26E Sales and we see 3-4x EV/CY26 Sales as a reasonable range ($19-$24.50) & we find the risk/reward compelling."

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 $15.72 yesterday.

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