Scotiabank Raises Dynatrace (NYSE:DT) Price Target to $62.00

Dynatrace (NYSE:DT) had its target price increased by equities research analysts at Scotiabank from $55.00 to $62.00 in a report issued on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 14.14% from the stock’s previous close.

A number of other brokerages have also issued reports on DT. JPMorgan Chase & Co. increased their price objective on Dynatrace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BNP Paribas started coverage on Dynatrace in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $52.00 price target for the company. Wedbush initiated coverage on Dynatrace in a report on Thursday, October 17th. They set an “outperform” rating and a $67.00 price target on the stock. BMO Capital Markets upped their price objective on shares of Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barclays raised shares of Dynatrace from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $64.00 in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dynatrace currently has an average rating of “Moderate Buy” and an average target price of $61.08.

Dynatrace Stock Performance

Shares of DT opened at $54.32 on Friday. The firm has a fifty day moving average of $52.77 and a 200-day moving average of $48.29. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 104.46, a price-to-earnings-growth ratio of 8.02 and a beta of 1.06. Dynatrace has a 1 year low of $39.42 and a 1 year high of $61.41.

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

Insider Activity

In other news, Director Stephen J. Lifshatz sold 5,000 shares of Dynatrace stock in a transaction on Friday, October 11th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director now owns 41,471 shares in the company, valued at approximately $2,280,905. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Dynatrace news, CEO Rick M. Mcconnell sold 50,000 shares of the company’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 owns 650,587 shares in the company, valued at approximately $33,505,230.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen J. Lifshatz sold 5,000 shares of Dynatrace stock in a transaction on Friday, October 11th. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the sale, the director now directly owns 41,471 shares of the company’s stock, valued at $2,280,905. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,022 shares of company stock worth $3,397,904 over the last quarter. Corporate insiders own 0.59% of the company’s stock.

Institutional Trading of Dynatrace

Hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in Dynatrace by 76.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 530 shares of the company’s stock worth $25,000 after purchasing an additional 230 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Dynatrace during the 2nd quarter valued at about $26,000. Versant Capital Management Inc grew its stake in shares of Dynatrace by 3,813.3% in the 2nd quarter. Versant Capital Management Inc now owns 587 shares of the company’s stock valued at $26,000 after buying an additional 572 shares in the last quarter. Riverview Trust Co increased its holdings in Dynatrace by 70.6% in the third quarter. Riverview Trust Co now owns 621 shares of the company’s stock worth $33,000 after buying an additional 257 shares during the last quarter. Finally, Paladin Wealth LLC bought a new position in Dynatrace during the third quarter valued at approximately $38,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

About Dynatrace

Dynatrace, Inc provides a security platform for multicloud environments in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company 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.