Cathie Wood’s Top 5 Small-Cap Stock Picks

1. PagerDuty, Inc. (NYSE:PD)

Number of Hedge Fund Holders: 26

Cathie Wood’s Ark Investment Management’s Holdings: $268,265,000

Percentage of Cathie Wood’s Ark Investment Management’s Portfolio: 1.58%

Market Capitalization as of July 26: $2.27 billion

PagerDuty, Inc. (NYSE:PD) is a San Francisco, California-based cloud computing corporation that has a SaaS incident response platform for IT departments across various industries.

On July 7, Kingsley Crane at Canaccord initiated coverage on PagerDuty, Inc. (NYSE:PD) stock with a target price of $32 and a Buy rating. The analyst highlighted that PagerDuty, Inc.’s (NYSE:PD) services have increased in importance as organizations are looking to save costs. Furthermore, PagerDuty, Inc. (NYSE:PD) has been able to protect its market share despite new entrants emerging. Crane sees PagerDuty, Inc.’s (NYSE:PD) expanding margins and breakeven free cash flow (FCF) profile as a positive sign for the company’s future.

ARK Investment Management held over 10.8 million shares in PagerDuty, Inc. (NYSE:PD) at the end of Q2 2022.

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