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

Dynatrace (NYSE:DT)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday, TipRanks reports. They currently have a $72.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 1.37% from the company’s current price.

A number of other equities analysts also recently commented on DT. William Blair restated a “buy” rating on shares of Dynatrace in a research note on Wednesday. Robert W. Baird increased their price objective on shares of Dynatrace from $57.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 21st. Jefferies Financial Group reduced their price objective on shares of Dynatrace from $56.00 to $53.00 and set a “hold” rating for the company in a research note on Tuesday, May 18th. They noted that the move was a valuation call. Royal Bank of Canada increased their price objective on shares of Dynatrace from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. Finally, Zacks Investment Research upgraded shares of Dynatrace from a “sell” rating to a “hold” rating in a research note on Tuesday, July 20th. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Dynatrace has an average rating of “Buy” and a consensus target price of $63.57.

NYSE DT traded up $0.42 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 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 quick ratio of 1.07 and a current ratio of 1.07. Dynatrace has a 1-year low of $33.83 and a 1-year high of $71.65. The company’s fifty day moving average is $64.56 and its 200-day moving average is $56.50.

Dynatrace (NYSE:DT) last announced its earnings results 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. The firm had revenue of $209.74 million during the quarter, compared to analyst estimates of $202.83 million. Dynatrace had a net margin of 10.05% and a return on equity of 12.28%. On average, research analysts forecast that Dynatrace will post 0.43 earnings per share for the current year.

In other news, CFO Kevin C. Burns sold 159,051 shares of Dynatrace stock in a transaction on Monday, June 28th. The shares were sold at an average price of $60.08, for a total transaction of $9,555,784.08. Following the transaction, the chief financial officer now owns 232,108 shares in the company, valued at $13,945,048.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Siclen John Van sold 55,000 shares of Dynatrace stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $58.59, for a total transaction of $3,222,450.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,549 shares of company stock worth $15,086,236. 0.88% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC bought a new stake in shares of Dynatrace during the first quarter worth about $199,642,000. 1832 Asset Management L.P. increased its position in shares of Dynatrace by 104.2% during the second quarter. 1832 Asset Management L.P. now owns 2,283,100 shares of the company’s stock worth $136,649,000 after acquiring an additional 1,165,200 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Dynatrace by 421.8% during the second quarter. JPMorgan Chase & Co. now owns 1,178,146 shares of the company’s stock worth $68,827,000 after acquiring an additional 952,350 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Dynatrace by 10.6% during the first quarter. Brown Advisory Inc. now owns 9,834,867 shares of the company’s stock worth $474,435,000 after acquiring an additional 943,961 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Dynatrace during the first quarter worth about $45,355,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

About Dynatrace

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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