Why PagerDuty Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
PagerDuty Inc (NYSE:PD) shares dropped over 10% due to a soft outlook despite reporting Q2 FY24 revenue growth of 19% Y/Y to $107.62 million, beating the consensus of $104.18 million. The company expects Q3 adjusted EPS of $0.13-$0.14 vs. consensus of $0.15 and revenue of $106.5 million-$108.5 million vs. street view of $106.91 million. For FY24, the company revised the outlook for revenue to $426 million-$430 million from $425 million - $430 million vs. the consensus of $427.73 million.
September 01, 2023 | 12:42 pm
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NEGATIVE IMPACT
PagerDuty's stock price dropped due to a soft outlook despite beating Q2 FY24 revenue consensus.
Despite beating the Q2 FY24 revenue consensus, PagerDuty's shares dropped due to a soft outlook. The company's Q3 adjusted EPS and revenue outlook is also lower than the consensus, which could negatively impact investor sentiment and the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100