Dynatrace (NYSE:DT) Sees Significant Growth in Short Interest

Dynatrace (NYSE:DT) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 4,640,000 shares, an increase of 6.2% from the September 30th total of 4,370,000 shares. Based on an average daily trading volume, of 966,600 shares, the days-to-cover ratio is presently 4.8 days. Approximately 5.9% of the shares of the company are sold short.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dean Capital Investments Management LLC bought a new stake in shares of Dynatrace during the third quarter valued at approximately $470,000. Emerald Advisers LLC bought a new stake in shares of Dynatrace during the third quarter valued at approximately $993,000. California Public Employees Retirement System bought a new stake in shares of Dynatrace during the third quarter valued at approximately $260,000. Finally, Rhumbline Advisers bought a new stake in shares of Dynatrace during the third quarter valued at approximately $395,000. Institutional investors own 72.97% of the company’s stock.

NYSE DT traded up $0.62 on Monday, reaching $22.07. 362,300 shares of the stock were exchanged, compared to its average volume of 1,061,980. Dynatrace has a one year low of $17.05 and a one year high of $27.48. The firm’s 50-day moving average price is $19.37. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.64.

Dynatrace (NYSE:DT) last released its earnings results on Wednesday, October 30th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $129.40 million for the quarter, compared to the consensus estimate of $123.57 million. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. Sell-side analysts forecast that Dynatrace will post 0.24 EPS for the current year.

A number of research firms recently issued reports on DT. Royal Bank of Canada began coverage on shares of Dynatrace in a report on Monday, August 26th. They issued an “outperform” rating and a $28.00 price objective on the stock. William Blair assumed coverage on shares of Dynatrace in a research note on Monday, August 26th. They set an “outperform” rating and a $6.50 target price on the stock. Barclays restated a “buy” rating and set a $27.00 target price on shares of Dynatrace in a research note on Friday, November 1st. KeyCorp assumed coverage on shares of Dynatrace in a research note on Monday, August 26th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Dynatrace from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $26.04.

Dynatrace Company Profile

Dynatrace, Inc provides a software intelligence platform for the enterprise cloud applications. It offers Dynatrace, a platform for running an enterprise cloud. The company's products include AppMon, Classic Real User Monitoring, Network Application Monitoring, and Synthetic Classic. Its platform allows its customers to modernize and automate IT operations, develop and release software, and enhance user experiences.

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