TD Cowen Downgrades PagerDuty to Market Perform, Lowers Price Target to $23
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst J. Derrick Wood has downgraded PagerDuty (NYSE:PD) from Outperform to Market Perform and reduced the price target from $29 to $23, indicating a more cautious outlook on the company's stock.
December 01, 2023 | 5:21 pm
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PagerDuty's stock rating has been downgraded by TD Cowen from Outperform to Market Perform, with a lowered price target from $29 to $23, suggesting a potential decrease in stock value.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in price target further reinforces the expectation of a lower valuation.
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