Position: 20x $17.50p 12/18
PagerDuty tripled off its April low on vibes. It’s up 160% in 6 months on 5% growths. This is a YTD high for them. Their product is a commodity, the street's average price target is 30% below here. They have no moat and as far as documented exits to competitors go (Rootly, Incident IO, Atlassian, Pagerly) we have zendesk, train line, flagstone, Fin, sail point, DoorDash, wealthsimple.)
IV is low and earnings are being reported in mid November. I think a correction happens leading into earnings but might also hold for earnings anticipating a shittier than expected guide. NFA.