PagerDuty price target lowered to $25 from $26 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on PagerDuty to $25 from $26 and keeps a Hold rating on the shares. While PagerDuty reported strong Q2 results relative to expectations, the analyst noted that billings growth fell below guidance and revenue growth is set to decelerate materially in the second half of the year. Given the lowered outlook for the second half and decelerating underlying metrics, the firm lowered its FY25 revenue growth estimate and its price target on the stock.