Categories Technology

PagerDuty stock opens up more than 50% from its IPO price on debut day

Shares of San Francisco-based tech firm PagerDuty (NYSE: PD) opened at $36.75, up 53% from its IPO price of $24 on its first day of trading on NYSE. PagerDuty increased its IPO price range from $19 to $21 to a range of $21 to $23 on Tuesday. Market watchers expected the $1.8 billion valued company to open up between $30 and $32.

Yesterday, PagerDuty announced that its 9.07 million shares of common stock will be priced at $24 per share. Morgan Stanley and J.P. Morgan Securities acted as lead book-running managers for the offering. RBC Capital Markets and Allen & Company acted as joint bookrunners.

PagerDuty PD stock IPO - Finanacials

According to Crunchbase, the 10-year old software maker had raised over $170 million in six rounds of funding before going public. This includes investments from Andreessen Horowitz, Bessemer Venture Partners and Accel Partners.

Also read: Lyft and six other companies went public in March

For the fiscal year 2019 ended on January 31, 2019, net loss was $40.7 million compared to a net loss of $38.1 million in the previous year. Revenue grew 48% year-over-year to $117.8 million.

PagerDuty’s global customer base at the end of fiscal year 2019 grew to 11,212 from 9,793 at January 31, 2018. One-third of this customer base includes Fortune 500 companies. No single customer represented 5% or more of the company’s revenue for the fiscal year ended January 31, 2019.

PagerDuty’s SaaS-based solution provides insights to customers about their business performance, evaluates their applications and automate them, and increase their productivity.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

 

 

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top