PagerDuty, Inc.

BST:2TY Stock Report

Market Cap: €996.5m

PagerDuty Valuation

Is 2TY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2TY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Fair Value: 2TY (€10.59) is trading below our estimate of fair value (€23.86)

Significantly Below Fair Value: 2TY is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2TY?

Key metric: As 2TY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2TY. This is calculated by dividing 2TY's market cap by their current earnings.
What is 2TY's PE Ratio?
PE Ratio7.4x
EarningsUS$152.23m
Market CapUS$1.16b

Price to Earnings Ratio vs Peers

How does 2TY's PE Ratio compare to its peers?

The above table shows the PE ratio for 2TY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average24.3x
TMV TeamViewer
8.1x10.74%€944.9m
AOF ATOSS Software
40.2x11.25%€1.9b
MUM Mensch und Maschine Software
25.2x13.77%€729.3m
1INN innoscripta
23.8x27.19%€928.0m
2TY PagerDuty
7.4x-67.31%€1.2b

Price-To-Earnings vs Peers: 2TY is good value based on its Price-To-Earnings Ratio (7.4x) compared to the peer average (24.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 2TY's PE Ratio compare vs other companies in the European Software Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2TY 7.4xIndustry Avg. 27.7xNo. of Companies21PE020406080100+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2TY is good value based on its Price-To-Earnings Ratio (7.4x) compared to the European Software industry average (27.4x).

Price to Earnings Ratio vs Fair Ratio

What is 2TY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2TY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2TY's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2TY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.59
€13.70
+29.34%
14.66%€17.12€10.27n/a8
Jan ’27€11.37
€14.41
+26.72%
15.72%€17.20€10.32n/a8
Dec ’26€10.15
€15.03
+48.12%
11.82%€17.25€12.94n/a7
Nov ’26n/a
€16.20
0%
13.10%€19.74€13.73n/a8
Oct ’26n/a
€16.20
0%
13.10%€19.74€13.73n/a8
Sep ’26€14.07
€16.81
+19.54%
11.66%€19.70€13.71n/a8
Aug ’26n/a
€16.93
0%
11.66%€19.84€13.80n/a8
Jul ’26n/a
€15.71
0%
12.62%€19.53€12.74n/a10
Jun ’26n/a
€16.25
0%
12.09%€20.26€13.21n/a11
May ’26€13.84
€17.59
+27.11%
16.77%€22.76€14.00n/a11
Apr ’26n/a
€19.05
0%
13.50%€23.89€16.54n/a11
Mar ’26n/a
€20.78
0%
16.68%€28.57€17.14n/a11
Feb ’26n/a
€20.97
0%
16.68%€28.83€17.30n/a11
Jan ’26n/a
€21.08
0%
15.45%€28.40€17.04€11.3711
Dec ’25n/a
€21.08
0%
15.45%€28.40€17.04€10.1511
Nov ’25n/a
€20.21
0%
16.33%€27.79€16.68n/a11
Oct ’25n/a
€19.77
0%
16.10%€27.07€16.24n/a11
Sep ’25n/a
€23.45
0%
10.60%€27.53€20.19€14.0711
Aug ’25n/a
€23.45
0%
10.60%€27.53€20.19n/a11
Jul ’25n/a
€24.33
0%
11.02%€28.03€20.56n/a11
Jun ’25€18.10
€24.13
+33.35%
10.58%€27.65€20.28n/a8
May ’25n/a
€24.21
0%
12.32%€27.76€19.43€13.8410
Apr ’25n/a
€24.21
0%
12.32%€27.76€19.43n/a10
Mar ’25n/a
€24.92
0%
12.22%€28.25€19.14n/a10
Feb ’25n/a
€24.92
0%
12.22%€28.25€19.14n/a10
Jan ’25n/a
€24.56
0%
12.71%€28.08€19.02n/a9
€13.73
Fair Value
22.9% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/09 03:17
End of Day Share Price 2026/01/09 00:00
Earnings2025/10/31
Annual Earnings2025/01/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PagerDuty, Inc. is covered by 16 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William Kingsley CraneBerenberg
Koji IkedaBofA Global Research
Joel FishbeinBTIG