TD Cowen Trims Dynatrace (NYSE:DT) Target Price to $58.00

Dynatrace (NYSE:DT) had its price objective trimmed by TD Cowen from $62.00 to $58.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Dynatrace from $65.00 to $60.00 and set an overweight rating for the company in a research report on Monday, April 1st. Scotiabank upped their price target on shares of Dynatrace from $62.00 to $70.00 and gave the stock a sector outperform rating in a research report on Monday, February 5th. Jefferies Financial Group upgraded shares of Dynatrace from a hold rating to a buy rating and upped their target price for the stock from $50.00 to $70.00 in a research report on Friday, January 5th. Capital One Financial started coverage on shares of Dynatrace in a research report on Wednesday, February 21st. They set an overweight rating and a $64.00 target price for the company. Finally, Morgan Stanley started coverage on shares of Dynatrace in a research report on Tuesday, February 13th. They set an equal weight rating and a $60.00 target price for the company. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $61.08.

Dynatrace Price Performance

DT opened at $45.55 on Friday. The firm has a market cap of $13.41 billion, a P/E ratio of 69.02, a PEG ratio of 3.89 and a beta of 1.07. Dynatrace has a 1-year low of $40.43 and a 1-year high of $61.41. The company has a 50 day simple moving average of $47.41 and a two-hundred day simple moving average of $50.88.

Dynatrace (NYSE:DT) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The business had revenue of $365.10 million during the quarter, compared to analyst estimates of $357.64 million. Dynatrace had a net margin of 14.44% and a return on equity of 11.92%. Equities analysts anticipate that Dynatrace will post 0.62 earnings per share for the current year.

Insider Buying and Selling at Dynatrace

In other Dynatrace news, SVP Dan Zugelder sold 6,595 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $52.61, for a total transaction of $346,962.95. Following the completion of the transaction, the senior vice president now owns 89,425 shares in the company, valued at $4,704,649.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Dan Zugelder sold 6,595 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $52.61, for a total value of $346,962.95. Following the sale, the senior vice president now owns 89,425 shares of the company’s stock, valued at $4,704,649.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rick M. Mcconnell sold 25,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $46.29, for a total transaction of $1,157,250.00. Following the completion of the sale, the chief executive officer now directly owns 477,105 shares in the company, valued at approximately $22,085,190.45. The disclosure for this sale can be found here. Insiders sold 14,278,591 shares of company stock worth $750,893,396 over the last 90 days. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Dynatrace

Several hedge funds and other institutional investors have recently made changes to their positions in DT. Norges Bank purchased a new stake in shares of Dynatrace in the fourth quarter valued at $148,515,000. American Century Companies Inc. increased its stake in Dynatrace by 11,824.1% in the 3rd quarter. American Century Companies Inc. now owns 2,411,771 shares of the company’s stock worth $112,702,000 after buying an additional 2,391,545 shares during the period. Vanguard Group Inc. increased its stake in Dynatrace by 9.8% in the 4th quarter. Vanguard Group Inc. now owns 26,264,280 shares of the company’s stock worth $1,436,393,000 after buying an additional 2,348,246 shares during the period. Congress Asset Management Co. MA increased its stake in Dynatrace by 670.2% in the 1st quarter. Congress Asset Management Co. MA now owns 1,815,931 shares of the company’s stock worth $84,332,000 after buying an additional 1,580,162 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in Dynatrace by 104.7% in the 4th quarter. Handelsbanken Fonder AB now owns 1,868,800 shares of the company’s stock worth $102,205,000 after buying an additional 956,000 shares during the period. 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. It 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.