PagerDuty price target raised to $20 from $19 at Morgan Stanley

Morgan Stanley raised the firm’s price target on PagerDuty (PD) to $20 from $19 and keeps an Equal Weight rating on the shares. ARR growth sustained at 10% for a fourth quarter in a row as revenue growth slightly improved in Q3, but slipped deals pushed back the time frame for ARR acceleration to FY26, the analyst noted post-earnings. Signs of stabilization across the business are “encouraging,” but the firm stays Equal Weight until more material inflection in growth emerges, the analyst added.