Dynatrace (NYSE:DT) Earns Outperform Rating from Analysts at Oppenheimer

Key Points

• Oppenheimer has initiated coverage on Dynatrace (NYSE:DT) with an "outperform" rating and set a price target of $65.00, suggesting a potential upside of 34.95% from the stock's previous close.
• Several analysts, including Barclays and Goldman Sachs, have also given buy ratings and adjusted their price targets, with the consensus price target for Dynatrace now at $62.72.
• Dynatrace recently reported earnings of $0.42 per share, exceeding expectations, with a revenue of $477.35 million, marking a 19.5% year-over-year increase.

Stock analysts at Oppenheimer initiated coverage on shares of Dynatrace (NYSE:DT - Get Free Report) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set an "outperform" rating and a $65.00 price target on the stock. Oppenheimer's price objective would indicate a potential upside of 34.95% from the stock's previous close.

Several other equities analysts have also recently weighed in on the company. Barclays raised their price target on Dynatrace from $55.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. DA Davidson raised their price target on Dynatrace from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Jefferies Financial Group restated a "buy" rating on shares of Dynatrace in a report on Wednesday, May 14th. The Goldman Sachs Group raised their price target on Dynatrace from $56.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Guggenheim raised their price target on Dynatrace from $66.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Dynatrace currently has an average rating of "Moderate Buy" and a consensus price target of $62.72.

Dynatrace Trading Down 0.5%

NYSE:DT opened at $48.17 on Wednesday. Dynatrace has a 12-month low of $39.30 and a 12-month high of $63.00. The stock has a 50-day moving average price of $52.23 and a 200 day moving average price of $51.57. The stock has a market capitalization of $14.52 billion, a P/E ratio of 29.55, a P/E/G ratio of 4.20 and a beta of 0.91.

Dynatrace (NYSE:DT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Dynatrace had a return on equity of 9.15% and a net margin of 27.75%.The firm had revenue of $477.35 million during the quarter, compared to analysts' expectations of $467.39 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm's revenue was up 19.5% on a year-over-year basis. On average, research analysts predict that Dynatrace will post 0.68 earnings per share for the current fiscal year.

Insider Activity at Dynatrace

In other Dynatrace news, EVP Dan Zugelder sold 15,824 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $54.52, for a total transaction of $862,724.48. Following the completion of the transaction, the executive vice president owned 17,242 shares of the company's stock, valued at $940,033.84. This represents a 47.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Dynatrace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MAI Capital Management grew its position in Dynatrace by 122.4% in the second quarter. MAI Capital Management now owns 547 shares of the company's stock worth $30,000 after acquiring an additional 301 shares during the period. VSM Wealth Advisory LLC purchased a new position in shares of Dynatrace during the second quarter worth $34,000. Eastern Bank purchased a new position in shares of Dynatrace during the second quarter worth $35,000. CX Institutional purchased a new position in shares of Dynatrace during the first quarter worth $40,000. Finally, Brooklyn Investment Group raised its stake in shares of Dynatrace by 761.9% in the first quarter. Brooklyn Investment Group now owns 905 shares of the company's stock valued at $43,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds 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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