Scotiabank Issues Positive Forecast for Dynatrace (NYSE:DT) Stock Price

Dynatrace (NYSE:DT) had its price objective lifted by equities researchers at Scotiabank from $62.00 to $67.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 15.23% from the company’s previous close.

A number of other equities analysts also recently commented on the company. BNP Paribas initiated coverage on Dynatrace in a research report on Tuesday, October 8th. They set a “neutral” rating and a $52.00 price objective for the company. Truist Financial increased their price objective on shares of Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Dynatrace in a research report on Friday. JPMorgan Chase & Co. increased their target price on Dynatrace from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald began coverage on Dynatrace in a report on Friday, January 17th. They set a “neutral” rating and a $58.00 price target for the company. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.96.

Dynatrace Stock Up 0.7 %

NYSE:DT opened at $58.15 on Friday. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 105.67, a price-to-earnings-growth ratio of 8.34 and a beta of 1.02. Dynatrace has a 52 week low of $39.42 and a 52 week high of $61.41. The company has a fifty day simple moving average of $54.75 and a two-hundred day simple moving average of $51.92.

Insider Buying and Selling at Dynatrace

In other news, EVP Bernd Greifeneder sold 50,000 shares of Dynatrace stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $57.83, for a total value of $2,891,500.00. Following the completion of the sale, the executive vice president now owns 1,007,038 shares of the company’s stock, valued at $58,237,007.54. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Dynatrace

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Dynatrace by 91.2% during the second quarter. AQR Capital Management LLC now owns 148,130 shares of the company’s stock worth $6,593,000 after purchasing an additional 70,642 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Dynatrace by 20.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,525 shares of the company’s stock worth $292,000 after buying an additional 1,090 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Dynatrace by 3.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 8,767 shares of the company’s stock valued at $392,000 after acquiring an additional 266 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Dynatrace by 7.0% in the second quarter. Cetera Investment Advisers now owns 43,528 shares of the company’s stock valued at $1,947,000 after acquiring an additional 2,843 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Dynatrace during the second quarter valued at about $567,000. 94.28% of the stock is owned by institutional investors and hedge funds.

Dynatrace Company Profile

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.