Dynatrace (NYSE:DT) Stock Price Expected to Rise, DA Davidson Analyst Says

Dynatrace (NYSE:DT) had its target price hoisted by equities research analysts at DA Davidson from $60.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 21.85% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Scotiabank raised their price objective on Dynatrace from $62.00 to $67.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 31st. Guggenheim reiterated a “neutral” rating on shares of Dynatrace in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on Dynatrace from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Dynatrace from $65.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, UBS Group lifted their target price on shares of Dynatrace from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Dynatrace has an average rating of “Moderate Buy” and a consensus price target of $61.22.

Dynatrace Stock Up 0.6%

NYSE:DT opened at $53.35 on Thursday. The stock has a market capitalization of $15.97 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 7.05 and a beta of 0.95. Dynatrace has a 52 week low of $39.30 and a 52 week high of $63.00. The firm has a 50 day moving average of $46.98 and a 200 day moving average of $52.63.

Insider Activity

In other news, CEO Rick M. Mcconnell sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $60.45, for a total transaction of $2,418,000.00. Following the sale, the chief executive officer now directly owns 506,720 shares in the company, valued at $30,631,224. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Dynatrace

A number of hedge funds have recently bought and sold shares of DT. Dragoneer Investment Group LLC purchased a new stake in shares of Dynatrace in the fourth quarter valued at approximately $242,380,000. Alyeska Investment Group L.P. purchased a new position in Dynatrace during the fourth quarter valued at $204,000,000. Norges Bank acquired a new stake in shares of Dynatrace in the fourth quarter valued at about $192,284,000. Raymond James Financial Inc. acquired a new stake in shares of Dynatrace in the fourth quarter valued at about $102,209,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Dynatrace by 146.4% during the first quarter. Ameriprise Financial Inc. now owns 2,728,251 shares of the company’s stock worth $128,638,000 after purchasing an additional 1,621,136 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

About Dynatrace

Dynatrace, Inc provides a security platform for multicloud environments in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company 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.