Stock Track | PagerDuty Plummets 6.21% Pre-market as Multiple Analysts Cut Price Targets

Stock Track

May 30

PagerDuty, Inc. (PD) shares tumbled 6.21% in pre-market trading on Friday, following a series of price target cuts from multiple Wall Street analysts. The cloud computing company, which specializes in digital operations management, faced a wave of downward revisions in its stock valuation.

Several prominent financial institutions lowered their price targets for PagerDuty. JP Morgan reduced its target from $21 to $18, while TD Cowen cut its projection from $18 to $17. RBC Capital Markets also joined the trend, lowering its target price to $20 from $22. Perhaps most notably, Bank of America Global Research decreased its price objective to $15 from $16, marking one of the more significant reductions among the analysts.

The collective downgrades suggest growing concerns about PagerDuty's near-term growth prospects and valuation. While the specific reasons behind these revisions were not explicitly stated in the available news, such widespread adjustments often reflect changing market conditions, competitive pressures, or shifts in company outlook. Investors appear to be reacting negatively to this wave of analyst pessimism, driving the stock's pre-market decline.

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(PD) shares tumbled 6.21% in pre-market trading on Friday, following a series of price target cuts from multiple Wall Street analysts. The cloud computing company, which specializes in digital operations management, faced a wave of downward revisions in its stock valuation.</p>\n\n<p>Several prominent financial institutions lowered their price targets for PagerDuty. JP Morgan reduced its target from $21 to $18, while TD Cowen cut its projection from $18 to $17. RBC Capital Markets also joined the trend, lowering its target price to $20 from $22. Perhaps most notably, Bank of America Global Research decreased its price objective to $15 from $16, marking one of the more significant reductions among the analysts.</p>\n\n<p>The collective downgrades suggest growing concerns about PagerDuty's near-term growth prospects and valuation. 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