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Fly News Breaks for December 6, 2019
Dec 6, 2019 | 08:52 EDT
DA Davidson analyst Rishi Jaluria lowered his price target on PagerDuty to $24 and kept his Neutral rating after its disappointing Q3 earnings and a lowered FY20 guidance. The analyst notes that the company is challenged by decelerating growth, sales execution issues, and declining net retention rate, though the appointment of a new Chief Revenue Officer and some signs of traction with newer products may support the stock. Jaluria contends that the sell-off in PagerDuty shares could be overdone, though he still prefers to remain on the sidelines.