$0.12 EPS Expected for Datto Holding Corp. (NYSE:MSP) This Quarter

Equities analysts expect Datto Holding Corp. (NYSE:MSP) to announce earnings per share (EPS) of $0.12 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Datto’s earnings. The firm is expected to issue its next earnings report on Wednesday, August 11th.

According to Zacks, analysts expect that Datto will report full-year earnings of $0.45 per share for the current fiscal year, with EPS estimates ranging from $0.44 to $0.45. For the next year, analysts expect that the business will report earnings of $0.47 per share, with EPS estimates ranging from $0.42 to $0.50. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Datto.

Datto (NYSE:MSP) last announced its earnings results on Tuesday, May 11th. The investment management company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $144.90 million for the quarter, compared to the consensus estimate of $143.00 million. Datto’s revenue was up 16.2% compared to the same quarter last year.

A number of equities research analysts have commented on MSP shares. BMO Capital Markets reduced their price target on shares of Datto from $38.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, March 9th. They noted that the move was a valuation call. Royal Bank of Canada reduced their price target on shares of Datto from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, March 8th. Morgan Stanley reduced their price target on shares of Datto from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, March 18th. Finally, Mizuho reduced their price target on shares of Datto from $35.00 to $31.00 in a report on Friday, March 12th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $33.10.

NYSE:MSP traded down $0.02 during trading hours on Friday, reaching $26.73. The company had a trading volume of 5,605 shares, compared to its average volume of 418,962. The company has a market capitalization of $4.31 billion and a price-to-earnings ratio of 78.14. The stock has a 50-day moving average price of $25.31. Datto has a twelve month low of $22.30 and a twelve month high of $33.46.

In related news, CTO Robert Raymond Petrocelli sold 5,059 shares of the firm’s stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $27.27, for a total transaction of $137,958.93. Following the transaction, the chief technology officer now directly owns 155,059 shares of the company’s stock, valued at $4,228,458.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy Weller sold 31,159 shares of the firm’s stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $26.88, for a total transaction of $837,553.92. Following the transaction, the chief executive officer now directly owns 45,607 shares in the company, valued at $1,225,916.16. The disclosure for this sale can be found here. Insiders have sold 118,012 shares of company stock worth $3,166,377 over the last three months.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSP. Treasurer of the State of North Carolina bought a new position in shares of Datto during the fourth quarter valued at about $237,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Datto in the fourth quarter worth about $620,000. BlackRock Inc. bought a new stake in Datto in the fourth quarter worth about $35,698,000. New York State Common Retirement Fund bought a new stake in Datto in the fourth quarter worth about $1,040,000. Finally, Alliancebernstein L.P. bought a new stake in Datto in the fourth quarter worth about $337,000. 86.49% of the stock is currently owned by institutional investors.

About Datto

Datto Holding Corp. provides cloud-based software and technology solutions for delivery through the managed service provider (MSP) channel to small and medium businesses in the United States and internationally. Its Unified Continuity products include Business Continuity and Disaster Recovery that protects servers and workstations, and minimize downtime; Cloud Continuity, an image-based continuity solution for Windows-based laptops and desktops; SaaS Protection, an automated and secure backup and restoration product; Workplace, a cloud-hosted file sync and share solution, which enable end-users to synchronize files across platforms, including mobile devices; and File Protection, an MSP-managed secure and scalable backup product that enables MSPs to protect and recover files and folders on workstations and laptops.

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