Information Provided By:
Fly News Breaks for December 4, 2019
Dec 4, 2019 | 09:17 EDT
RBC Capital analyst Matthew Hedberg lowered his price target on PagerDuty to $43 ahead of its Q3 results, citing the company's peer group multiple compression. The analyst still keeps his Outperform rating with a positive view of setup going into earnings relative to consensus estimates and expects investors to focus on the durability of PagerDuty's earnings growth, customer adds, and its competitive landscape. Hedberg further cites the company's opportunity to move into other areas of an organization beyond IT on-call management such as customer service, security, business operations,and industrial operations.