Guggenheim Increases Dynatrace (NYSE:DT) Price Target to $64.00

Dynatrace (NYSE:DT) had its price target raised by analysts at Guggenheim from $55.00 to $64.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 20.78% from the stock’s current price.

A number of other analysts have also commented on the company. Scotiabank lifted their price objective on Dynatrace from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 8th. Piper Sandler initiated coverage on Dynatrace in a research report on Thursday, June 27th. They issued a “neutral” rating and a $50.00 price target on the stock. Wedbush reiterated a “neutral” rating and issued a $55.00 price objective on shares of Dynatrace in a report on Thursday, August 8th. Loop Capital reduced their target price on Dynatrace from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, June 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Dynatrace in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.09.

Dynatrace Price Performance

Dynatrace stock opened at $52.99 on Friday. The business has a 50 day simple moving average of $48.51 and a 200 day simple moving average of $46.74. The company has a market capitalization of $15.80 billion, a PE ratio of 101.90, a price-to-earnings-growth ratio of 7.83 and a beta of 1.05. Dynatrace has a one year low of $39.42 and a one year high of $61.41.

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

Insider Buying and Selling at Dynatrace

In related news, CEO Rick M. Mcconnell sold 50,000 shares of the company’s stock in a transaction dated 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 $33,505,230.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dynatrace news, EVP Dan Zugelder sold 11,022 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $49.71, for a total transaction of $547,903.62. Following the sale, the executive vice president now directly owns 217,465 shares in the company, valued at $10,810,185.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rick M. Mcconnell sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 650,587 shares in the company, valued at $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 ninety days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dynatrace

Several hedge funds have recently added to or reduced their stakes in DT. Cim LLC lifted its holdings in Dynatrace by 4.7% in the second quarter. Cim LLC now owns 20,485 shares of the company’s stock valued at $1,009,000 after buying an additional 926 shares during the period. Sanctuary Advisors LLC purchased a new position in Dynatrace during the second quarter worth about $567,000. Coronation Fund Managers Ltd. purchased a new stake in shares of Dynatrace during the second quarter valued at approximately $8,328,000. Clearbridge Investments LLC raised its stake in shares of Dynatrace by 16.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,725,817 shares of the company’s stock worth $77,213,000 after purchasing an additional 248,730 shares during the period. Finally, New Century Financial Group LLC purchased a new stake in shares of Dynatrace during the 2nd quarter worth approximately $233,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.