Long Position on PD @ $31.65 on 3/29/2023 (Momentum)

PagerDuty, Inc. (PD) engages in the operation of a digital operations management platform in the United States, EMEA, the Asia Pacific, and Japan. Stockwinners

The company's digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage powerful machine learning to correlate, process, and predict opportunities and issues.

Its platform includes PagerDuty Incident Response, that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; PagerDuty Process Automation products, which empower users with the ability to create automated workflows and runbooks that span different scripts, tools, APIs, and system commands to safely hand off the knowledge required to use these tools correctly and consistently; PagerDuty Event Intelligence, that applies machine learning to correlate and automate the identification of incidents from billions of events; and PagerDuty for Customer Service, which is offered to orchestrate, automate, and scale responses to customer impacting issues.

It serves various industries, including software and technology, telecommunications, retail, travel and hospitality, media and entertainment, and financial services. 

On March 15th, PD reported a Quarter January 2023 loss of $0.17 per share on revenue of $101.0 million. The consensus estimate was a loss of $0.22 per share on revenue of $98.8 million. Revenue grew 28.6% on a year-over-year basis. Since the report, shares have formed a bullish "flag" and higher share prices are expected.

 

Entry Point: $31.65

Stop Loss: $30.00

Trading Range: $19.51 to $38.75

Target Price: $34.75

Position closed on 3/31/2023 at price of $34.95 with a 10.43% gain in 2 days.

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