Sanmit Amin
2 min read
In This Article:
PagerDuty, Inc. (NYSE:PD) is one of 10 AI stocks that will skyrocket.
Canaccord Genuity has lowered its price target on PagerDuty, Inc. (NYSE:PD) to $21 from $23, on June 2, while maintaining a Buy rating on the stock. The adjustment follows the release of PagerDuty’s first-quarter financial results, which slightly exceeded the company’s own guidance.
PagerDuty, Inc. (NYSE:PD) reported revenue of $119.8 million for the quarter, marking an 8% increase compared to the same period last year. The firm highlighted the company’s disciplined approach to cost management, which contributed to operating margins outperforming expectations. Despite the lower price target, Canaccord remains optimistic about PagerDuty’s future prospects. The research firm pointed to a potential upward inflection in growth beginning in 2026, suggesting that recent strategic initiatives and operational improvements could set the stage for stronger revenue expansion in the coming years.
PagerDuty, known for its digital operations management platform, helps organizations respond effectively to IT incidents and service disruptions. The company’s focus on improving efficiency and streamlining incident response has positioned it well in a competitive market. Canaccord’s outlook reflects a balanced view of PagerDuty’s near-term performance and long-term growth potential. Investors are encouraged by the company’s steady revenue growth and margin discipline, even as broader market uncertainties persist.
While we acknowledge the potential of PD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PD and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 Best Small Cap Tech Stocks With Biggest Upside Potential and 7 Most Popular AI Penny Stocks Under $5 To Avoid.
Disclosure: None.
