Dynatrace (NYSE:DT) Stock Price Expected to Rise, Scotiabank Analyst Says

Dynatrace (NYSE:DT - Free Report) had its price target upped by Scotiabank from $55.00 to $62.00 in a report released on Friday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other brokerages have also recently issued reports on DT. BNP Paribas initiated coverage on shares of Dynatrace in a research note on Tuesday, October 8th. They issued a "neutral" rating and a $52.00 price objective on the stock. Guggenheim lifted their target price on shares of Dynatrace from $55.00 to $64.00 and gave the company a "buy" rating in a report on Friday, September 27th. BMO Capital Markets increased their price target on shares of Dynatrace from $53.00 to $61.00 and gave the stock an "outperform" rating in a report on Friday. BTIG Research lifted their price objective on Dynatrace from $57.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Wedbush started coverage on Dynatrace in a research report on Thursday, October 17th. They set an "outperform" rating and a $67.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Dynatrace has a consensus rating of "Moderate Buy" and a consensus target price of $61.08.

Dynatrace Trading Down 2.6 %

Shares of Dynatrace stock traded down $1.43 on Friday, hitting $52.89. The stock had a trading volume of 5,098,574 shares, compared to its average volume of 3,342,394. The company's 50 day moving average price is $52.77 and its 200 day moving average price is $48.29. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 104.46, a P/E/G ratio of 8.02 and a beta of 1.06. Dynatrace has a 52-week low of $39.42 and a 52-week high of $61.41.

Dynatrace (NYSE:DT - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 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 business had revenue of $399.20 million for the quarter, compared to analysts' expectations of $392.22 million. During the same period in the previous year, the company posted $0.16 EPS. The company's quarterly revenue was up 19.9% on a year-over-year basis. Analysts predict that Dynatrace will post 0.71 EPS for the current fiscal year.

Insider Activity

In related news, EVP Dan Zugelder sold 11,022 shares of the stock in a transaction dated 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 directly owns 217,465 shares in the company, valued at approximately $10,810,185.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the transaction, the chief executive officer now directly owns 650,587 shares of the company's stock, valued at $33,505,230.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the executive vice president now owns 217,465 shares of the company's stock, valued at approximately $10,810,185.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,022 shares of company stock valued at $3,397,904 over the last 90 days. Insiders own 0.59% of the company's stock.

Institutional Trading of Dynatrace

Several large investors have recently added to or reduced their stakes in the stock. Eminence Capital LP purchased a new stake in shares of Dynatrace in the second quarter worth about $158,369,000. Jericho Capital Asset Management L.P. acquired a new stake in Dynatrace in the first quarter valued at approximately $133,701,000. Assenagon Asset Management S.A. raised its stake in shares of Dynatrace by 1,146.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,208,137 shares of the company's stock valued at $98,792,000 after purchasing an additional 2,030,915 shares during the period. Vanguard Group Inc. lifted its position in shares of Dynatrace by 6.4% during the first quarter. Vanguard Group Inc. now owns 27,945,251 shares of the company's stock worth $1,297,777,000 after purchasing an additional 1,680,971 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Dynatrace by 285.7% in the second quarter. Marshall Wace LLP now owns 1,389,727 shares of the company's stock valued at $62,176,000 after purchasing an additional 1,029,387 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.