PagerDuty Inc. (PD) shares are soaring 5% in Thursday's pre-market trading session, despite the company trimming its annual forecast and receiving mixed reactions from analysts. The cloud computing company, which specializes in digital operations management, reported its second-quarter results after the market close on Wednesday.

Following the earnings report, several analysts adjusted their price targets for PagerDuty. Baird lowered its target price to $16 from $18, while RBC Capital reduced its target to $18 from $20. However, RBC Capital maintained its Outperform rating on the stock. Craig-Hallum kept its Buy rating with a price target of $20, suggesting confidence in the company's long-term prospects despite near-term challenges.

The stock's unexpected surge comes in the face of a reduced annual forecast, which typically leads to share price declines. This positive market reaction may indicate that investors are focusing on potential long-term growth prospects rather than short-term guidance adjustments. The divergent analyst views also highlight the complex landscape PagerDuty is navigating in the current economic environment.