Analysts Anticipate Datto Holding Corp. (NYSE:MSP) to Announce $0.12 Earnings Per Share

Analysts forecast that Datto Holding Corp. (NYSE:MSP) will post $0.12 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Datto’s earnings. The firm is expected to report its next earnings results on Wednesday, August 11th.

According to Zacks, analysts expect that Datto will report full-year earnings of $0.45 per share for the current year, with EPS estimates ranging from $0.44 to $0.45. For the next fiscal year, analysts forecast that the firm will post earnings of $0.47 per share, with EPS estimates ranging from $0.42 to $0.50. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Datto.

Datto (NYSE:MSP) last announced its quarterly earnings data on Tuesday, May 11th. The investment management company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $144.90 million during the quarter, compared to analysts’ expectations of $143.00 million. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis.

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Datto from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, March 18th. BMO Capital Markets lowered their price target on shares of Datto from $38.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, March 9th. They noted that the move was a valuation call. Royal Bank of Canada lowered their price target on shares of Datto from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, March 8th. Finally, Mizuho lowered their price target on shares of Datto from $35.00 to $31.00 in a report on Friday, March 12th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $33.10.

In other news, CEO Timothy Weller sold 31,159 shares of the company’s stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $26.88, for a total value of $837,553.92. Following the sale, the chief executive officer now directly owns 45,607 shares of the company’s stock, valued at approximately $1,225,916.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert Raymond Petrocelli sold 5,059 shares of the company’s stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $27.27, for a total transaction of $137,958.93. Following the completion of the sale, the chief technology officer now directly owns 155,059 shares in the company, valued at $4,228,458.93. The disclosure for this sale can be found here. Insiders sold a total of 118,012 shares of company stock worth $3,166,377 over the last ninety days.

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in Datto by 246.8% during the 1st quarter. Millennium Management LLC now owns 50,077 shares of the investment management company’s stock valued at $1,147,000 after purchasing an additional 35,639 shares during the last quarter. Morgan Stanley grew its position in Datto by 120.6% during the 1st quarter. Morgan Stanley now owns 56,503 shares of the investment management company’s stock valued at $1,294,000 after purchasing an additional 30,885 shares during the last quarter. Holocene Advisors LP grew its position in Datto by 2.8% during the 1st quarter. Holocene Advisors LP now owns 308,330 shares of the investment management company’s stock valued at $7,064,000 after purchasing an additional 8,330 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. purchased a new stake in Datto during the 1st quarter valued at about $32,867,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Datto during the 1st quarter valued at about $209,000. 86.49% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MSP traded down $0.02 during midday trading on Friday, reaching $26.73. 5,605 shares of the stock traded hands, compared to its average volume of 418,962. The business has a fifty day moving average of $25.31. Datto has a 12 month low of $22.30 and a 12 month high of $33.46. The firm has a market capitalization of $4.31 billion and a PE ratio of 78.14.

About Datto

Datto Holding Corp. provides cloud-based software and technology solutions for delivery through the managed service provider (MSP) channel to small and medium businesses in the United States and internationally. Its Unified Continuity products include Business Continuity and Disaster Recovery that protects servers and workstations, and minimize downtime; Cloud Continuity, an image-based continuity solution for Windows-based laptops and desktops; SaaS Protection, an automated and secure backup and restoration product; Workplace, a cloud-hosted file sync and share solution, which enable end-users to synchronize files across platforms, including mobile devices; and File Protection, an MSP-managed secure and scalable backup product that enables MSPs to protect and recover files and folders on workstations and laptops.

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