PagerDuty price target lowered to $16 from $20 at Truist

Truist lowered the firm’s price target on PagerDuty (PD) to $16 from $20 and keeps a Buy rating on the shares. Over the past year, a clear split has emerged between AI winners and losers, with seat-based business models down an average of 34% while other companies gained 24%, the analyst tells investors in a research note. This bifurcated sentiment is expected to continue driving a valuation gap in 2026, though some of last year’s underperformers may rebound, the firm says.