PagerDuty (PD) is currently trading at $18.52, with Bank of America recently downgrading it to Underperform and lowering the price target to $18 due to slow growth in its core incident response market and rising competition, particularly from Datadog. Analysts expect no significant revenue acceleration in 2025, and the company faces peak margins and steady growth investments, which could limit upside potential. The bearish view is driven by these growth headwinds and competitive pressures, suggesting the stock may underperform its peers in the near term.