PagerDuty falls on downbeat Q3 profit forecast

PagerDuty

01/09/2023 14:06

** Shares of software company PagerDuty  PD.N  down 10.2% at
$23.13 premarket
    ** Co forecasts Q3 adj. profit below analysts' estimates
    ** Sees Q3 non-GAAP net income per share between $0.13 and
$0.14 vs ests of $0.15 - Refinitiv
    ** Expects Q3 revenue of $106.5 mln-$108.5 mln, compared
with analysts' ests of $106.9 mln
    ** Brokerage Baird downgrades the stock to "neutral"; cuts
PT to $25 from $32
    ** Truist Securities and Craig-Hallum also cut PTs to $25 
    ** Co, however, posts Q2 rev and adjusted EPS above analysts
expectations; sees 2024 total revenue between $426 mln-$430 mln
    ** As of last close, PD shares down 3% YTD


 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))