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Fly News Breaks for August 16, 2019
PD
Aug 16, 2019 | 07:48 EDT
DA Davidson analyst Rishi Jaluria initiated PagerDuty with a Neutral rating and a price target of $36. The analyst is positive on the company's value proposition around "alerting and responding" with "multiple" secular tailwinds around software and monitoring solutions, saying that its "rapid growth" taking revenue from $28M in FY16 to nearly $120M should continue. Jaluria notes however that at 14-times enterprise value to expected 2020 revenue, he sees PagerDuty shares as "fairly valued".
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