PagerDuty (PD) Climbs 7% on Analyst Upgrade, Sale Reports

We recently published These 10 Stocks are Winning Big. PagerDuty, Inc. (NYSE:PD) is one of the best-performing stocks on Monday.

PagerDuty rallied for a second day on Monday, adding 7.06 percent to close at $16.83 apiece as investors took heart from an analyst upgrade and news that it was exploring a sale.

In its market note, investment firm TD Cowen raised its price target and recommendation for PagerDuty, Inc. (NYSE:PD) to $22 from $17 and to “buy” from “hold” previously.

This followed a report by Reuters on Friday, quoting sources privy to the matter, that PagerDuty, Inc. (NYSE:PD) was exploring a potential sale after receiving interest from buyers.

Reuters said PagerDuty, Inc. (NYSE:PD) is currently working with Qatalyst Partners to facilitate the potential acquisition, and that investment bankers are now soliciting further buyer interest.

According to TD Cowen, Qatalyst Partners has a strong track record of facilitating software mergers and acquisitions, adding that many of its facilitated transactions resulted in sales over the years.

PagerDuty, Inc. (NYSE:PD) is a California-based software maker that helps businesses monitor their IT systems and respond to cyber incidents and outages.

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