Dynatrace (NYSE:DT) Price Target Lowered to $58.00 at TD Cowen

Dynatrace (NYSE:DT) had its target price cut by stock analysts at TD Cowen from $62.00 to $58.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 27.81% from the company’s current price.

Several other analysts have also issued reports on the stock. Scotiabank increased their price target on shares of Dynatrace from $62.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 5th. Citigroup boosted their target price on shares of Dynatrace from $58.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Wolfe Research assumed coverage on shares of Dynatrace in a research note on Monday, March 18th. They set an “outperform” rating and a $60.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Dynatrace in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Dynatrace from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, April 1st. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Dynatrace Price Performance

Dynatrace stock traded down $0.88 during trading hours on Friday, hitting $45.38. The company had a trading volume of 1,456,206 shares, compared to its average volume of 3,523,089. The firm has a market cap of $13.36 billion, a PE ratio of 68.68, a PEG ratio of 3.81 and a beta of 1.07. Dynatrace has a one year low of $40.43 and a one year high of $61.41. The firm has a 50-day moving average of $47.72 and a 200 day moving average of $50.84.

Dynatrace (NYSE:DT) last announced its earnings results on Thursday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. Dynatrace had a net margin of 14.44% and a return on equity of 11.92%. The firm had revenue of $365.10 million for the quarter, compared to analyst estimates of $357.64 million. As a group, research analysts expect that Dynatrace will post 0.62 earnings per share for the current year.

Insider Transactions at Dynatrace

In other news, CEO Rick M. Mcconnell sold 25,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $46.29, for a total transaction of $1,157,250.00. Following the completion of the sale, the chief executive officer now directly owns 477,105 shares of the company’s stock, valued at $22,085,190.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Dynatrace news, CEO Rick M. Mcconnell sold 25,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $46.29, for a total value of $1,157,250.00. Following the completion of the sale, the chief executive officer now directly owns 477,105 shares of the company’s stock, valued at approximately $22,085,190.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Thoma Bravo Ugp, Llc sold 14,242,929 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.60, for a total transaction of $749,178,065.40. Following the completion of the sale, the insider now directly owns 16,114,344 shares of the company’s stock, valued at $847,614,494.40. The disclosure for this sale can be found here. Insiders sold a total of 14,278,591 shares of company stock valued at $750,893,396 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Dynatrace by 2,277.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,934,130 shares of the company’s stock valued at $293,315,000 after buying an additional 6,642,452 shares in the last quarter. Norges Bank purchased a new stake in shares of Dynatrace during the 4th quarter valued at approximately $148,515,000. American Century Companies Inc. lifted its stake in shares of Dynatrace by 11,824.1% during the 3rd quarter. American Century Companies Inc. now owns 2,411,771 shares of the company’s stock valued at $112,702,000 after buying an additional 2,391,545 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Dynatrace by 9.8% during the 4th quarter. Vanguard Group Inc. now owns 26,264,280 shares of the company’s stock valued at $1,436,393,000 after buying an additional 2,348,246 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Dynatrace by 55.7% during the 3rd quarter. State Street Corp now owns 6,202,122 shares of the company’s stock valued at $215,896,000 after buying an additional 2,218,679 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.