It’s a big day for PagerDuty (NYSE:PD), a cloud computing operation that prides itself on rapid response to any issues. It posted its earnings report, and delivered on just about every point possible. That leaves it little wonder why it was up over 14% in Thursday’s trading session.
PagerDuty posted earnings of $0.08 per share, which was a win over the analysts’ projections of $0.02. Meanwhile, a similar win showed up in revenue figures, as PagerDuty posted $101 million in revenue. That was not only up in a big way over this time last year—28.7% up, in fact—but also beat the analyst projections that looked for $98.99 million in revenue. Customer growth figures were downright impressive. Customers with annual recurring revenue of over $100,000 were up from 594 this time last year to 752 this year. Meanwhile, $1 million customers were up from 43 to 50. A much smaller number, but that’s at least $7 million more per year than it had.
PagerDuty also brought out some decent projections. It looks for revenue between $102 million and $104 million, which would mean a growth rate between 19% and 22% overall. Earnings per share, meanwhile, were projected between $0.09 and $0.10.
Overall, analyst consensus calls PagerDuty a Strong Buy by a factor of five Buy recommendations to just one Hold. Better yet, PagerDuty stock offers 8.76% upside potential thanks to its average price target of $34.75.
