Royal Bank Of Canada Issues Positive Forecast for Dynatrace (NYSE:DT) Stock Price

Key Points

• Royal Bank of Canada raised its target price for Dynatrace stock from $60.00 to $64.00, indicating a potential upside of 36.49% based on the stock's previous close.
• A total of 15 analysts have rated Dynatrace stock, with 15 giving it a buy rating and averaging a price target of $62.57.
• Dynatrace reported a 16.9% increase in revenue to $445.17 million, exceeding analyst expectations, with an earnings per share figure of $0.33.

Dynatrace (NYSE:DT - Get Free Report) had its target price increased by equities research analysts at Royal Bank Of Canada from $60.00 to $64.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 36.49% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. UBS Group lifted their price target on shares of Dynatrace from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Barclays lifted their price target on shares of Dynatrace from $55.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. The Goldman Sachs Group raised their price objective on shares of Dynatrace from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group restated a "buy" rating on shares of Dynatrace in a research note on Wednesday, May 14th. Finally, Wedbush restated an "outperform" rating and set a $67.00 price objective on shares of Dynatrace in a research note on Friday, May 16th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Dynatrace presently has an average rating of "Moderate Buy" and a consensus price target of $62.57.

Dynatrace Price Performance

DT traded down $3.64 on Thursday, hitting $46.89. The company had a trading volume of 2,860,140 shares, compared to its average volume of 2,981,751. Dynatrace has a 52-week low of $39.30 and a 52-week high of $63.00. The stock has a fifty day simple moving average of $54.02 and a 200-day simple moving average of $52.49. The firm has a market capitalization of $14.15 billion, a P/E ratio of 29.21, a P/E/G ratio of 4.41 and a beta of 0.91.

Dynatrace (NYSE:DT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Dynatrace had a net margin of 28.47% and a return on equity of 9.08%. The business had revenue of $445.17 million during the quarter, compared to analyst estimates of $435.14 million. During the same period last year, the business posted $0.30 earnings per share. Dynatrace's quarterly revenue was up 16.9% compared to the same quarter last year. Equities research analysts expect that Dynatrace will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Dynatrace

In other news, EVP Dan Zugelder sold 15,824 shares of Dynatrace stock in a transaction on Monday, June 9th. The shares were sold at an average price of $54.52, for a total transaction of $862,724.48. Following the transaction, the executive vice president 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 through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dynatrace

Several hedge funds have recently modified their holdings of the stock. Dragoneer Investment Group LLC bought a new position in Dynatrace during the fourth quarter valued at $242,380,000. Alyeska Investment Group L.P. bought a new stake in shares of Dynatrace in the 4th quarter worth about $204,000,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Dynatrace by 79.4% in 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 buying an additional 3,092,576 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Dynatrace by 146.4% in the 1st quarter. Ameriprise Financial Inc. now owns 2,728,251 shares of the company's stock worth $128,638,000 after buying an additional 1,621,136 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Dynatrace by 53.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,895,262 shares of the company's stock worth $211,707,000 after buying an additional 1,350,794 shares during 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.

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