Dynatrace, Inc. (NYSE:DT) Receives $59.70 Average Target Price from Brokerages

Dynatrace, Inc. (NYSE:DT) has been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $59.70.

Several research analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Dynatrace in a research report on Tuesday, August 6th. Wells Fargo & Company lowered their price objective on Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Scotiabank lifted their price objective on Dynatrace from $52.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 8th. Guggenheim lowered their price objective on Dynatrace from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Finally, Piper Sandler assumed coverage on Dynatrace in a research report on Thursday, June 27th. They set a “neutral” rating and a $50.00 price objective on the stock.

Insiders Place Their Bets

In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of Dynatrace stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $51.50, for a total value of $2,575,000.00. Following the sale, the chief executive officer now owns 650,587 shares of the company’s stock, valued at approximately $33,505,230.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Dan Zugelder sold 11,022 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $49.71, for a total transaction of $547,903.62. Following the transaction, the executive vice president now owns 217,465 shares of the company’s stock, valued at approximately $10,810,185.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rick M. Mcconnell sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $51.50, for a total value of $2,575,000.00. Following the transaction, the chief executive officer now directly owns 650,587 shares in the company, valued at approximately $33,505,230.50. The disclosure for this sale can be found here. Insiders have sold a total of 76,426 shares of company stock valued at $3,804,069 in the last quarter. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dynatrace

A number of large investors have recently bought and sold shares of DT. Eminence Capital LP purchased a new position in Dynatrace during the 2nd quarter valued at $158,369,000. Jericho Capital Asset Management L.P. purchased a new position in Dynatrace during the 1st quarter valued at $133,701,000. Norges Bank purchased a new position in Dynatrace during the 4th quarter valued at $148,515,000. Vanguard Group Inc. lifted its holdings in shares of Dynatrace by 9.8% in the 4th quarter. Vanguard Group Inc. now owns 26,264,280 shares of the company’s stock worth $1,436,393,000 after buying an additional 2,348,246 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Dynatrace by 1,146.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company’s stock worth $98,792,000 after buying an additional 2,030,915 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Dynatrace Stock Performance

Shares of NYSE:DT opened at $52.49 on Wednesday. The stock has a market capitalization of $15.65 billion, a price-to-earnings ratio of 100.94, a PEG ratio of 7.63 and a beta of 1.05. The stock’s 50-day simple moving average is $47.97 and its two-hundred day simple moving average is $46.61. Dynatrace has a 52-week low of $39.42 and a 52-week high of $61.41.

Dynatrace (NYSE:DT) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $399.20 million for the quarter, compared to analysts’ expectations of $392.22 million. Dynatrace had a return on equity of 9.77% and a net margin of 10.36%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. As a group, equities analysts forecast that Dynatrace will post 0.71 earnings per share for the current fiscal year.

Dynatrace Company Profile

Dynatrace, Inc provides a security platform for multicloud environments. It operates Dynatrace, a security platform, which provides application and microservices monitoring, runtime application security, infrastructure monitoring, log management and analytics, digital experience monitoring, digital business analytics, and cloud automation.