Dynatrace (NYSE:DT) Receives Buy Rating from Needham & Company LLC

Dynatrace (NYSE:DT)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report issued on Wednesday, TipRanks reports. They presently have a $72.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 1.37% from the company’s current price.

DT has been the topic of several other reports. JMP Securities upped their price objective on Dynatrace from $57.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, July 27th. Truist upped their target price on Dynatrace from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Truist Securities upped their target price on Dynatrace from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. BMO Capital Markets upped their target price on Dynatrace from $56.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, July 9th. Finally, Canaccord Genuity upped their target price on Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dynatrace presently has a consensus rating of “Buy” and a consensus target price of $63.57.

Shares of NYSE:DT traded up $0.42 during trading on Wednesday, reaching $71.03. The company had a trading volume of 6,827 shares, compared to its average volume of 1,785,273. The stock’s fifty day moving average price is $64.56 and its 200 day moving average price is $56.50. Dynatrace has a fifty-two week low of $33.83 and a fifty-two week high of $71.65. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of 272.66, a price-to-earnings-growth ratio of 21.01 and a beta of 1.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.07 and a quick ratio of 1.07.

Dynatrace (NYSE:DT) last announced its quarterly earnings data on Wednesday, July 28th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.07. Dynatrace had a return on equity of 12.28% and a net margin of 10.05%. The firm had revenue of $209.74 million for the quarter, compared to analyst estimates of $202.83 million. On average, equities analysts anticipate that Dynatrace will post 0.43 EPS for the current fiscal year.

In other news, CFO Kevin C. Burns sold 37,498 shares of Dynatrace stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $61.55, for a total transaction of $2,308,001.90. Following the transaction, the chief financial officer now directly owns 100,034 shares in the company, valued at approximately $6,157,092.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Siclen John Van sold 55,000 shares of Dynatrace stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $58.59, for a total value of $3,222,450.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,549 shares of company stock worth $15,086,236. 0.88% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DT. Dimensional Fund Advisors LP raised its holdings in Dynatrace by 756.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 233,076 shares of the company’s stock valued at $10,086,000 after buying an additional 205,857 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Dynatrace during the first quarter valued at about $315,000. US Bancorp DE raised its holdings in Dynatrace by 78.5% during the first quarter. US Bancorp DE now owns 13,971 shares of the company’s stock valued at $675,000 after buying an additional 6,144 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Dynatrace by 73.6% during the first quarter. Commonwealth Equity Services LLC now owns 22,281 shares of the company’s stock valued at $1,074,000 after buying an additional 9,448 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Dynatrace by 17.1% during the first quarter. Envestnet Asset Management Inc. now owns 516,550 shares of the company’s stock valued at $24,918,000 after buying an additional 75,273 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Dynatrace Company Profile

Dynatrace, Inc offers software intelligence platform, purpose-built for the enterprise cloud. The firm’s platform utilizes artificial intelligence at its core and advanced automation to provide answers, not just data, about the performance of applications, the underlying hybrid cloud infrastructure, and the experience of the customers’ users.

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Analyst Recommendations for Dynatrace (NYSE:DT)

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