The stock of PagerDuty, Inc. (NYSE:PD) is now priced at $29.85 and the shares are -1.75 points down or -5.54% lower compared to its previous closing price of $31.6. The stock had 1.402 million contracts set over the past session. PD shares’ daily volume is compared to its average trading volume at 1.762 million shares. However, it has a float of 64.34 million and although its performance was -2.07% over the week, it’s one to watch. Analysts have given the PD stock a yearly average price target of $30.5 per share. It means the stock’s upside potential is 2.18% with the PD share price recently placing at $29.38 to $32. However, some brokerage firms have priced the stock below the average, including one that has called $20.
The shorts are running away from the PagerDuty, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PD shares have declined. Short interest in the stock represents just 8.59% of its float, but the volume has dropped by 0.
In the last trading session, PagerDuty, Inc. (NYSE:PD) dropped by -$0.63 over the week and gained $1.63 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $40.56. The stock recorded its established 52-week high on 08/09/19.
Since 03/17/20, the stock has traded to a low of $12.33 at 142.09%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, PagerDuty, Inc.’s two-week RSI is 54.37. This suggests that the stock is neutral at the moment and that PD shares’ price movement remains stable. The stochastic readings are equally revealing at 76.16% meaning the PD share price is currently in oversold territory.
The technical chart shows that the PD stock will likely settle at between $31.44 and $33.03 per share. However, if the stock dips below $28.82, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $27.79.
Currently, the stock is trading in the green of MACD, with a reading of 0.93. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned PD a rating of Buy in their intiating review released on July 20. Morgan Stanley analysts see the stock as a Equal-Weight, but they also dropped the share’s target price from $43 to $34 in a flash note released to investors on October 16. Robert W. Baird analysts see the stock as Outperform when the analysts initiated the share price coverage on October 15, placing it at $31.
The average rating for the PD equity is 2.14 and is currently gathering a bullish momentum. Of 8 analysts tracking PagerDuty, Inc. polled by Reuters, 3 rated PD as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for PagerDuty, Inc. (NYSE:PD) will decrease by about -99.9%, which will see them reach $50.7 million. The company’s full-year revenues are, however, expected to increase by about 25.19%, up from $166.35 million to $208.25 million. PD’s expected adjusted earnings should surge almost 0% to end up at -$0.07 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -22.86% to record -$0.27/share.