As previously reported, BofA analyst Koji Ikeda downgraded PagerDuty (PD) to Underperform from Buy with a price target of $18, down from $23, as the firm does not believe a meaningful acceleration in revenue growth will be seen in calendar year 2025 given headwinds that include slow growth in the core incident response market and increasing competition. In addition, growth investments are to remain steady, so shares could lag peers until revenue growth accelerates and/or margins expand, the analyst added.
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