PagerDuty up after Q4 revenue beats estimates

PagerDuty

16/03/2023 14:20

** Shares of software firm PagerDuty Inc  PD.N  jump 16.2%
to $32.34 in morning trading
    ** PD on Wednesday posted a 28.6% rise in Q4 revenue to $101
mln, above Refinitiv estimates of $98.8 mln
    ** Co expects FY24 revenue between $446 mln and $452 mln,
representing growth rate of 20%-22% y-o-y
    ** RBC says that despite uneven macros, PD delivered upside
to growth coupled with better profitability and solid FY24 guide
as management continues to demonstrate solid execution and
strong cost discipline; raises PT to $34 from $32
    ** Avg rating of 11 analysts is "buy"; median PT is $34 -
Refinitiv data
    ** Stock up ~22% YTD

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))