PagerDuty price target lowered to $25 from $30 at Truist

Truist lowered the firm’s price target on PagerDuty to $25 from $30 and keeps a Hold rating on the shares. The company’s Q2 results were “mixed” with revenue growth above expectations thanks to the durability in its cross-sell motion, even though the management has noted challenges in the macro remained, especially in its SMB cohort, the analyst tells investors in a research note. PagerDuty also saw a deceleration in deals with large customers and continued weakness in dollar-based net retention rate, the firm added, noting that it prefers to remain neutral on the stock despite the favorable view of the company’s Generative AI capabilities.