PagerDuty price target raised to $34 from $32 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on PagerDuty to $34 from $32 and keeps an Outperform rating on the shares. The analyst cites the company’s Q4 earnings beat and above-consensus guidance despite uneven macro conditions as its management continues to demonstrate the "mission criticality" of its platform, solid execution and strong cost discipline. The firm was also "impressed" by PagerDuty’s FY24 revenue guide of 21% growth despite assuming no recovery in the macros.