JMP Securities Increases Dynatrace (NYSE:DT) Price Target to $50.00

Dynatrace (NYSE:DT) had its price objective raised by JMP Securities from $37.00 to $50.00 in a research note issued to investors on Thursday morning, The Fly reports.

Several other equities analysts have also commented on the company. Rosenblatt Securities boosted their price target on Dynatrace from $32.00 to $42.00 and gave the stock a neutral rating in a research report on Thursday. Canaccord Genuity boosted their price target on Dynatrace from $38.00 to $48.00 and gave the stock a buy rating in a research report on Thursday. Zacks Investment Research lowered Dynatrace from a buy rating to a hold rating in a research report on Tuesday, June 30th. Needham & Company LLC boosted their price target on Dynatrace from $38.00 to $50.00 and gave the stock a buy rating in a research report on Monday, July 27th. Finally, DA Davidson boosted their price target on Dynatrace from $34.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Dynatrace currently has a consensus rating of Buy and an average target price of $39.76.

Shares of NYSE:DT traded down $0.54 during trading on Thursday, reaching $41.83. 1,263,040 shares of the stock were exchanged, compared to its average volume of 2,295,187. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. Dynatrace has a 12-month low of $17.05 and a 12-month high of $44.65. The firm has a market cap of $11.76 billion and a price-to-earnings ratio of -30.76. The firm’s 50-day moving average price is $41.34 and its 200 day moving average price is $32.72.

Dynatrace (NYSE:DT) last issued its earnings results on Wednesday, July 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. The business had revenue of $155.51 million during the quarter, compared to analysts’ expectations of $149.63 million. Dynatrace had a negative return on equity of 8.18% and a negative net margin of 61.51%. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. As a group, equities research analysts forecast that Dynatrace will post 0.2 EPS for the current year.

In related news, major shareholder Thoma Bravo Ugp, Llc sold 29,668,891 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.30, for a total transaction of $1,017,642,961.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Bernd Greifeneder sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $37.83, for a total value of $1,891,500.00. Following the sale, the senior vice president now directly owns 903,727 shares in the company, valued at $34,187,992.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,509,874 shares of company stock worth $1,047,682,132. Corporate insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC bought a new position in shares of Dynatrace in the first quarter worth $131,380,000. BlackRock Inc. lifted its holdings in shares of Dynatrace by 66.9% in the first quarter. BlackRock Inc. now owns 4,903,932 shares of the company’s stock valued at $116,911,000 after buying an additional 1,965,671 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Dynatrace by 6.5% in the first quarter. Wells Fargo & Company MN now owns 3,765,157 shares of the company’s stock valued at $89,761,000 after buying an additional 230,587 shares during the period. Eventide Asset Management LLC lifted its holdings in shares of Dynatrace by 151.7% in the first quarter. Eventide Asset Management LLC now owns 2,076,400 shares of the company’s stock valued at $49,501,000 after buying an additional 1,251,500 shares during the period. Finally, State Street Corp lifted its holdings in shares of Dynatrace by 98.4% in the first quarter. State Street Corp now owns 1,428,879 shares of the company’s stock valued at $34,064,000 after buying an additional 708,529 shares during the period. Hedge funds and other institutional investors own 91.20% of the company’s stock.

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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Analyst Recommendations for Dynatrace (NYSE:DT)

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