<div id="readability-page-1">11:11 AM EST, 11/26/2025 (MT Newswires) -- PagerDuty ( PD ) posted mixed Q3 results and outlook relative to market expectations as seat-based optimizations accelerated at its clients, RBC Capital Markets said in a note Wednesday.PagerDuty ( PD ) is now trying to &#34;emphasize multi-year contracts and earlier renewal processes&#34; to fight the seat headwinds, the note said.RBC said that while it is cautious on the seat-based pressures and is also skeptical about a short-term topline acceleration, it is encouraged by the &#34;continued leverage shown through profitability outperformance.&#34;Meanwhile, PagerDuty's ( PD ) management indicated that the number of clients &#34;downgrading and churning is trending downwards, but the dollar value of the seat-based reductions was larger than forecasted,&#34; the note said.The investment firm said, however, PagerDuty ( PD ) believes the optimizations are due to wider layoff trends at large companies facing budgetary constraints rather than due to issues with its platform.RBC kept PagerDuty's ( PD ) outperform rating and decreased the company's price target to $17 from $18.Price: 11.65, Change: -3.53, Percent Change: -23.25 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

PagerDuty 公佈了參差不齊的第三季度業績，RBC 資本市場指出，基於席位的壓力影響了其前景。該公司正專注於多年的合同和提前續約，以應對這些挑戰。儘管對短期增長持懷疑態度，RBC 對盈利能力的超預期表現感到鼓舞。客户降級和流失正在減少，但基於席位的減少超出了預期。RBC 將這些優化歸因於更廣泛的裁員，而非平台問題，維持 “跑贏大盤” 評級，但將目標價下調至 17 美元。PagerDuty 的股價下跌了 23.25%，至 11.65 美元

RBC 表示，PagerDuty 在座位壓力下交出了喜憂參半的季度業績和前景