Citigroup Has Lowered Expectations for Dynatrace (NYSE:DT) Stock Price

Key Points

• Citigroup has reduced its price target for Dynatrace (NYSE:DT) from $68.00 to $64.00, yet maintains a "buy" rating, indicating a potential upside of 32.56% from the previous close.
• Other brokerage firms have shown mixed opinions, with Rosenblatt Securities and Royal Bank of Canada maintaining buy ratings while setting their targets at $67.00 and $64.00 respectively.
• Dynatrace's recent earnings report revealed a 19.5% year-over-year revenue growth, with earnings per share exceeding analyst estimates, reflecting overall positive performance amid varying analyst expectations.

Dynatrace (NYSE:DT - Get Free Report) had its price target cut by research analysts at Citigroup from $68.00 to $64.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 32.56% from the company's previous close.

A number of other brokerages also recently commented on DT. Rosenblatt Securities reiterated a "buy" rating and set a $67.00 target price on shares of Dynatrace in a research note on Monday, August 4th. Royal Bank Of Canada lifted their price target on shares of Dynatrace from $60.00 to $64.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Guggenheim lifted their price target on shares of Dynatrace from $66.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wedbush reissued an "outperform" rating and set a $67.00 target price on shares of Dynatrace in a research note on Friday, May 16th. Finally, KeyCorp initiated coverage on shares of Dynatrace in a research note on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Dynatrace has a consensus rating of "Moderate Buy" and an average price target of $62.63.

Dynatrace Price Performance

Dynatrace stock traded up $0.04 during mid-day trading on Monday, reaching $48.28. 417,153 shares of the stock traded hands, compared to its average volume of 3,028,509. The stock has a market capitalization of $14.56 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 4.19 and a beta of 0.91. Dynatrace has a 12-month low of $39.30 and a 12-month high of $63.00. The business's 50-day moving average is $53.00 and its 200-day moving average is $52.04.

Dynatrace (NYSE:DT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $477.35 million during the quarter, compared to analyst estimates of $467.39 million. Dynatrace had a return on equity of 9.15% and a net margin of 27.75%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Equities analysts anticipate that Dynatrace will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling at Dynatrace

In other news, EVP Dan Zugelder sold 15,824 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $54.52, for a total value of $862,724.48. Following the sale, the executive vice president directly owned 17,242 shares of the company's stock, valued at approximately $940,033.84. This represents a 47.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Dynatrace

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Dynatrace by 3.6% during the second quarter. Vanguard Group Inc. now owns 31,403,014 shares of the company's stock valued at $1,733,760,000 after buying an additional 1,084,307 shares during the last quarter. Janus Henderson Group PLC raised its position in Dynatrace by 5.6% during the 4th quarter. Janus Henderson Group PLC now owns 9,361,736 shares of the company's stock valued at $508,811,000 after purchasing an additional 493,987 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Dynatrace by 14.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,768,711 shares of the company's stock worth $413,445,000 after acquiring an additional 1,124,207 shares in the last quarter. American Century Companies Inc. raised its position in shares of Dynatrace by 0.6% in the 2nd quarter. American Century Companies Inc. now owns 7,845,619 shares of the company's stock worth $433,157,000 after acquiring an additional 44,288 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Dynatrace by 79.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,987,838 shares of the company's stock valued at $329,477,000 after buying an additional 3,092,576 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company's stock.

Dynatrace Company Profile

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.

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