Dynatrace (NYSE:DT) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Dynatrace was upgraded to a "buy" rating by Wall Street Zen, indicating increased confidence in the stock's performance.
• Guggenheim and other firms have raised their target prices for Dynatrace, with Guggenheim setting a new target at $68.00.
• The company's latest earnings report showed a 19.5% year-over-year revenue increase, surpassing analyst expectations with $477.35 million in revenue.

Dynatrace (NYSE:DT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other research analysts have also recently issued reports on DT. Guggenheim lifted their price objective on Dynatrace from $66.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, August 7th. KeyCorp began coverage on Dynatrace in a research note on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 target price for the company. Royal Bank Of Canada raised their target price on Dynatrace from $60.00 to $64.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. BMO Capital Markets lowered their target price on Dynatrace from $63.00 to $62.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $67.00 target price on shares of Dynatrace in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.72.

Dynatrace Stock Performance

Shares of NYSE DT traded up $0.52 during midday trading on Friday, reaching $48.58. 2,703,787 shares of the company traded hands, compared to its average volume of 3,391,106. The firm has a market cap of $14.65 billion, a PE ratio of 29.80, a PEG ratio of 4.23 and a beta of 0.91. The stock's 50-day simple moving average is $50.27 and its 200-day simple moving average is $50.39. Dynatrace has a 12 month low of $39.30 and a 12 month high of $63.00.

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

Insider Transactions at Dynatrace

In related news, Director Lisa M. Campbell sold 1,013 shares of Dynatrace stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $49.77, for a total value of $50,417.01. Following the completion of the sale, the director directly owned 1,012 shares in the company, valued at $50,367.24. This trade represents a 50.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel S. Yates sold 2,000 shares of Dynatrace stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $49.89, for a total value of $99,780.00. Following the completion of the sale, the chief accounting officer owned 22,555 shares of the company's stock, valued at approximately $1,125,268.95. The trade was a 8.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,099 shares of company stock valued at $154,429. Corporate insiders own 0.57% of the company's stock.

Institutional Trading of Dynatrace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH increased its position in Dynatrace by 30.0% in the first quarter. Keybank National Association OH now owns 738,230 shares of the company's stock worth $34,808,000 after purchasing an additional 170,380 shares during the period. Bridges Investment Management Inc. grew its position in shares of Dynatrace by 82.4% during the 1st quarter. Bridges Investment Management Inc. now owns 24,873 shares of the company's stock worth $1,173,000 after buying an additional 11,234 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Dynatrace by 4.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 121,613 shares of the company's stock worth $5,734,000 after buying an additional 4,697 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Dynatrace during the 1st quarter worth about $2,175,000. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Dynatrace during the 1st quarter worth about $3,846,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.