Royal Bank of Canada Increases Dynatrace (NYSE:DT) Price Target to $65.00

Dynatrace (NYSE:DT - Get Free Report) had its price objective lifted by Royal Bank of Canada from $60.00 to $65.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would suggest a potential upside of 18.59% from the stock's previous close.

Other research analysts also recently issued reports about the stock. BTIG Research lifted their target price on shares of Dynatrace from $57.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. BNP Paribas initiated coverage on shares of Dynatrace in a research note on Tuesday, October 8th. They set a "neutral" rating and a $52.00 price objective for the company. Truist Financial raised their target price on Dynatrace from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Loop Capital upped their price target on Dynatrace from $45.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Finally, Scotiabank increased their price objective on Dynatrace from $55.00 to $62.00 and gave the stock a "sector outperform" rating in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, Dynatrace has a consensus rating of "Moderate Buy" and an average target price of $62.08.

Dynatrace Stock Performance

DT traded up $0.46 on Friday, hitting $54.81. 1,457,592 shares of the company were exchanged, compared to its average volume of 1,457,296. The firm has a fifty day simple moving average of $54.85 and a two-hundred day simple moving average of $50.64. The stock has a market capitalization of $16.36 billion, a PE ratio of 99.65, a price-to-earnings-growth ratio of 8.20 and a beta of 1.01. Dynatrace has a 12 month low of $39.42 and a 12 month high of $61.41.

Insider Activity

In related news, Director Stephen J. Lifshatz sold 5,000 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the director now directly owns 41,471 shares in the company, valued at $2,280,905. The trade was a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bernd Greifeneder sold 50,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total value of $2,891,500.00. Following the sale, the executive vice president now owns 1,007,038 shares in the company, valued at approximately $58,237,007.54. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,027 shares of company stock worth $3,168,084 over the last three months. 0.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dynatrace

Several large investors have recently bought and sold shares of the business. Everence Capital Management Inc. purchased a new stake in Dynatrace in the fourth quarter worth approximately $469,000. GAMMA Investing LLC lifted its holdings in shares of Dynatrace by 85.8% during the 4th quarter. GAMMA Investing LLC now owns 3,637 shares of the company's stock valued at $198,000 after buying an additional 1,680 shares during the period. Versant Capital Management Inc boosted its stake in shares of Dynatrace by 11.9% in the 4th quarter. Versant Capital Management Inc now owns 1,933 shares of the company's stock worth $105,000 after buying an additional 206 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Dynatrace by 21.9% in the third quarter. Retirement Systems of Alabama now owns 361,884 shares of the company's stock worth $19,350,000 after acquiring an additional 64,999 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in Dynatrace during the third quarter valued at $300,000. 94.28% of the stock is currently owned by 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.