- PagerDuty Inc (NYSE:PD) reported Q2 revenue of $67.5 million, up 33.2% year-on-year, surpassing the analyst consensus of $65.6 million. The adjusted EPS loss of $(0.13) beat the consensus loss of $(0.15).
- The software company sees Q3 revenue between $69 million – $71 million, above the consensus of $68.3 million. The adjusted EPS loss between $(0.10) – $(0.09) compares to the consensus loss of $(0.09).
- Analysts celebrated the beat with price target raise, betting on the upside from enterprise digital transformation.
- Baird analyst Rob Oliver raised the PT to $60 from $53, implying a 35.4% upside, and reiterated an Outperform. He expects the improved cadence of execution and strengthening fundamentals to drive a higher valuation.
- Oliver continues to view PagerDuty as a compelling play on the growing importance of IT to revenue growth as companies digitally transform their businesses.
- JPMorgan analyst Sterling Auty raised the PT to $52 from $47, signifying a 17.4% upside, and maintained an Overweight.
- Morgan Stanley analyst Sanjit Singh raised the PT to $54 from $50, indicating a 21.9% upside.
- Price Action: PD shares traded higher by 10.70% at $49.05 in the market session on the last check Friday.
Evercore ISI Group Maintains In-Line on Camden Prop Trust, Lowers Price Target to $147
Evercore ISI Group analyst Steve Sakwa maintains Camden Prop Trust (NYSE:CPT) with a In-Line and lowers the price target from $150 to $147.
