For the period ending April 30, the company has lost a adjusted 4 cents per share to $ 85.4M in sales, up 34% year-over-year. Analysts expect a loss of 8 cents per share on $ 82.7M in revenue.
Monness, Crespi, Hardt analyst Brian White noted that PagerDuty (PD) has “huge opportunities in the real-time digital operations market,” but there are concerns about the global economy entering a recession and rising geopolitical risks, the environment for tech stocks is not favorable.
PagerDuty (PD) shares fell nearly 6% to $ 26.01 on Friday, while other cloud computing stocks, such as Salesforce (CRM), Adobe (NASDAQ: ADBE), Working Day (NASDAQ: WDAY) and ServiceNow (NOW) all declined as well, led by a 3.5% decrease on Labor Day.
San Francisco -based PagerDuty (PD) also said it forecasts its revenue for the second quarter and full year.
It now expects second -quarter sales to be between $ 87M and $ 89M, with full -year sales between $ 364M and $ 369M, from a previous outlook of $ 360M to $ 366M.
White raised his second-quarter and full-year sales forecast on the back of the guidance bump, citing a “positive” tone in the earnings call.
#PagerDuty #fell #strong #guidance #SaaS #stocks #decline #NYSE #Source Link # PagerDuty fell despite ‘strong’ Q1, guidance; SaaS stocks decline (NYSE: PD)