PD - PagerDuty, Inc.

NYSE - NYSE Delayed Price. Currency in USD
46.68
+0.39 (+0.84%)
As of 2:36PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close46.29
Open46.58
Bid46.64 x 1100
Ask46.75 x 900
Day's Range46.51 - 48.73
52 Week Range36.00 - 59.82
Volume441,480
Avg. Volume551,249
Market Cap3.552B
Beta (3Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-1.90
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est48.50
Trade prices are not sourced from all markets
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    During the past few weeks, Chinese electrical-vehicle manufacturer Nio (NYSE:NIO) has been in the fast lane. Nio stock up about 40% or so to $3.50. Yet the shares are still well off their highs. The stock was more than $10 in late February. Click to Enlarge Source: Shutterstock It's also important to keep in mind that the company is a recent IPO. Yet it certainly hasn't enjoyed the enthusiasm of many other operators like Zoom Video Communications (NASDAQ:ZM), Anaplan (NYSE:PLAN) and Pagerduty (NYSE:PD).But hey, IPOs can certainly make nice comebacks, right? So with Nio stock, might there be one brewing? Or should investors be skeptical?InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Dependable Dividend Stocks to Buy A Closer Look at NioWell, there are certainly some positives. Keep in mind that the sentiment for Nio stock had gotten to horrible levels. Thus a bounce back is reasonable. And there was probably short covering (this is when short sellers buy back shares to cover their positions). As of late June, about 15% of the float for Nio was shorted.But there were also some fundamental factors at work. Perhaps the most important was that the second quarter saw a pick-up in deliveries, which came to 3,553. This was above the company's quarterly guidance of 2,800 to 3,200 (albeit, this forecast was fairly conservative). In June, NIO also launched its ES6 five-seater premium SUV and the results were encouraging. Deliveries were 413.But despite all this, there are still some negative factors, and I think they could easily outweigh the positives. For example, Nio recalled more than 4,800 units of the ES8 (or close to 30% of the total deliveries for the company's history). The reason: There were three battery fires. Nio Recall WoesIt's encouraging that Nio has been proactive. Let's face it, the auto industry can be resistant to recognizing problems. Yet the recall is still something that points to quality issues, which is never a good thing for a premium vehicle. It also does not help that there are already general worries about EVs.In fact, the company's business model, which relies on the manufacturing of the vehicles from another company, could be an issue. That is, there could be more vulnerability to quality issues as Nio does not have as much control.But there is something else about the business model: It means that the margins are quite low. In other words, it could be tough for Nio to realize the benefits of the economies of scale as the company grows. And yes, this could be limiting for the stock price.It also does not help that Nio continues to burn money. During the latest quarter, the operating loss was a hefty $366 million. But the cash on hand is only about $1.12 billion and the debt load is $1.35 billion.In light of this, it would not be surprising to see another equity raise - and this would mean more dilution for the stock. Bottom Line on Nio StockEven though the Chinese government has been cutting back on subsidies, there still is considerable support to promote the EV industry. This is definitely good news for Nio stock.But then again, the company has to fight fierce competitors like BYD (OTCMKTS:BYDDF) and Beijing Electric Vehicle Co. Consider that there are nearly 486 registered EV manufactures in China! So it will be tough to stand out. It also does not help that the Chinese economy is slowing down, despite efforts to stimulate growth.All in all, there's quite a bit of risk with Nio, and it's probably best to hold off for now.Tom Taulli is the author of the upcoming book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential The post Nio Stock Isn't Cheap When You Factor in Competition and Recalls appeared first on InvestorPlace.

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The median stock multiple of my cohort, which I had to adjust slightly because of acquisitions, didn’t budge much since the February analysis.The median market value adjusted for cash and debt was about 10.3 times a blend of revenue estimated in the next year, compared with 9.8 times in February. The price-to-earnings multiple of the S&P 500 index has also increased since then.(5) What really stood out was the top-tier companies in my PUTIN index have grown even more bubbly.Look behind the velvet rope to find the 20x Club, the most popular hot spot in stock markets. More than half a dozen software firms now have enterprise values that are more than 20 times expected revenue in the next year, according to Bloomberg data.That is — to put it mildly — not normal. Relative to revenue, buying a share of pharmaceutical software firm Veeva Systems Inc., a member of the 20x Club, is four times the price of Alphabet, one of the dominant companies of this generation. Some of the members of the 20x Club are newly public, and it’s not unusual to see young companies with stock market values that are a bit out of whack. But 20x Club members also include Veeva, Atlassian Corp., Okta Inc., MongoDB and other companies that have been public for 18 months or more. As corporate-messaging service Slack plans to list its shares Thursday in a not-IPO,(2)it may join this elite crew. A valuation for Slack of $17 billion or so would work out to an enterprise value to forward revenue in the ballpark of the 20x Club.There are understandable reasons these business software firms, which are relatively unknown by normal humans, have become darlings of the stock market and technology investing. Something real and seemingly permanent is changing in how companies large and small buy technology. Companies are desperate to modernize their technology so they don’t get left behind and can take advantage of growth opportunities, and that has made them open their wallets to buy new types of internet-friendly, easy-to-use software that promises to help make their marketing spending more efficient, catch cyberattacks before they cripple systems or enable seamless communications among far-flung employees.I’m not yet convinced that these young cloud software companies can ever grow as large as their investors believe, particularly if an economic downturn forces companies to rationalize their technology budgets. But software truly is eating the world, and that has accrued to the benefit of both titans such as Microsoft and relative newcomers like the members of the 20x Club.At the same time, investors are desperate for growth, and business software firms are delivering it in spades. They can also be relatively easy to understand — they sell software in exchange for cash — and businesses have proved to be relatively reliable consumers, unlike people and their tendency to flit from one hot internet thing to the next. And now that superstar tech companies have run into regulatory problems, been hit with tariffs or otherwise have more question marks than before, a bet on a company selling software that an antitrust lawyer would never notice suddenly looks like a good idea. The question is what that promise costs. As stock buyers pay more relative to a company’s revenue, any wobble in growth can result in a crash, and investors’ room for error narrows when stock prices are already high relative to a company’s financial prospects. High stock valuations may also deter some needed consolidation in business software. It has become fashionable not to care about valuation, but there can be a high price to bubbles in share prices. Of course, I could have called a bubble in business software stocks at multiple points in the last decade and it would have been accurate in the moment yet completely wrong. An index of mostly business software companies, the BVP Nasdaq Emerging Cloud Index, has more than quintupled since 2013, compared with a 74% gain for the S&P 500 over the same period. It’s true that 10 years into an unprecedented bull market in stocks, unusual valuations are par for the course. Maybe the bubble for business software firms will never end, or stock prices of these highflying software firms will deflate slowly rather than blow up. Maybe. Or there may be a high price to pay for software companies in an unprecedented stratosphere. (1) No, I am not sorry at all. I will say, however, that the "U" in PUTINs, Ultimate Software Group Inc., was sold in May to an investor group. My acronym is broken.(2) Yes, these software companies tend to be valued as a multiple of revenue rather than profits. In many cases they don't have profits.(3) Bloomberg Beta, the venture capital arm of Bloomberg Opinion parent Bloomberg LP, is an investor in Slack.To contact the author of this story: Shira Ovide at sovide@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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