Guggenheim Forecasts Strong Price Appreciation for Dynatrace (NYSE:DT) Stock

Key Points

• Guggenheim analysts have increased their target price for Dynatrace (NYSE:DT) from $66.00 to $68.00, indicating a potential upside of 41.71% from the current stock price, which has a "buy" rating.
• Despite the positive forecast from Guggenheim, BMO Capital Markets and Loop Capital have adjusted their target prices downwards, highlighting a mixed outlook among analysts with 15 ratings to buy and 7 to hold.
• Dynatrace reported strong earnings with a 16.9% increase in year-over-year revenue, surpassing analysts' expectations for both revenue and EPS, contributing to growing investor interest.

Dynatrace (NYSE:DT - Get Free Report) had its target price hoisted by research analysts at Guggenheim from $66.00 to $68.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price target would suggest a potential upside of 41.71% from the stock's previous close.

Several other brokerages also recently issued reports on DT. BMO Capital Markets cut their target price on shares of Dynatrace from $63.00 to $62.00 and set an "outperform" rating on the stock in a research note on Thursday. UBS Group increased their price objective on Dynatrace from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Royal Bank Of Canada raised their price objective on Dynatrace from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Jefferies Financial Group reiterated a "buy" rating on shares of Dynatrace in a report on Wednesday, May 14th. Finally, Loop Capital decreased their price target on shares of Dynatrace from $55.00 to $44.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.39.

Dynatrace Trading Down 5.0%

NYSE:DT traded down $2.54 during midday trading on Thursday, hitting $47.99. 1,604,893 shares of the stock were exchanged, compared to its average volume of 2,969,870. The business has a 50-day moving average price of $54.02 and a two-hundred day moving average price of $52.49. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 4.41 and a beta of 0.91. Dynatrace has a one year low of $39.30 and a one year high of $63.00.

Dynatrace (NYSE:DT - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. The business had revenue of $445.17 million for the quarter, compared to the consensus estimate of $435.14 million. Dynatrace had a net margin of 28.47% and a return on equity of 9.08%. The business's revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. Sell-side analysts forecast that Dynatrace will post 0.68 EPS for the current fiscal year.

Insider Transactions at Dynatrace

In related news, EVP Dan Zugelder sold 15,824 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were 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 in the company, valued at $940,033.84. This trade represents a 47.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On Dynatrace

Several institutional investors and hedge funds have recently made changes to their positions in DT. Vanguard Group Inc. grew its stake in Dynatrace by 0.5% in the first quarter. Vanguard Group Inc. now owns 30,318,707 shares of the company's stock valued at $1,429,527,000 after acquiring an additional 157,523 shares during the period. Janus Henderson Group PLC raised its position in shares of Dynatrace by 5.6% during the fourth quarter. Janus Henderson Group PLC now owns 9,361,736 shares of the company's stock worth $508,811,000 after purchasing an additional 493,987 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Dynatrace by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,768,711 shares of the company's stock valued at $413,445,000 after purchasing an additional 1,124,207 shares in the last quarter. American Century Companies Inc. grew its position in shares of Dynatrace by 3.1% in the 1st quarter. American Century Companies Inc. now owns 7,801,331 shares of the company's stock valued at $367,833,000 after purchasing an additional 230,967 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 worth $329,477,000 after purchasing an additional 3,092,576 shares in the last quarter. Institutional investors and hedge funds 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.

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