William Blair Starts PagerDuty (PD) at Outperform

William Blair analyst Bhavan Suri initiates coverage on PagerDuty (NYSE: PD) with a Outperform rating.

• Favors the company's leadership position in an emerging product category.
• Says company offers a pioneering operations management platform for the digital business era.
• "In fiscal 2019, PagerDuty added 1,419 net new customers and delivered an ARR-based net expansion rate of 140%. We estimate this translated to 53% ARR growth, which surpassed revenue growth of 48% and represented an acceleration from the prior year. In our view, these metrics demonstrate strong market traction and validation of PagerDuty’s value proposition."

For an analyst ratings summary and ratings history on PagerDuty click here. For more ratings news on PagerDuty click here.

Shares of PagerDuty closed at $46.40 yesterday.

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