Dynatrace (NYSE:DT – Get Free Report) had its target price cut by equities research analysts at Rosenblatt Securities from $70.00 to $65.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities‘s price objective would indicate a potential upside of 38.12% from the stock’s current price.
Several other equities analysts also recently issued reports on the company. Scotiabank reiterated an “outperform” rating and issued a $61.00 price objective on shares of Dynatrace in a research report on Thursday, August 6th. Oppenheimer boosted their price objective on Dynatrace from $60.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, September 24th. BNP Paribas Exane upgraded Dynatrace from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Thursday, October 8th. KeyCorp raised their target price on Dynatrace from $53.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald raised their target price on Dynatrace from $47.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.34.
Check Out Our Latest Analysis on DT
Dynatrace Trading Down 14.6%
NYSE:DT opened at $47.06 on Wednesday. Dynatrace has a 1 year low of $31.64 and a 1 year high of $66.30. The firm has a 50 day moving average of $57.67 and a 200-day moving average of $44.62. The stock has a market capitalization of $13.60 billion, a P/E ratio of 94.12, a price-to-earnings-growth ratio of 3.38 and a beta of 0.76.
Dynatrace (NYSE:DT – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.49 by $0.05. The business had revenue of $579.92 million for the quarter, compared to the consensus estimate of $568.03 million. Dynatrace had a return on equity of 11.07% and a net margin of 7.22%. Dynatrace’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. As a group, analysts forecast that Dynatrace will post 1.11 EPS for the current fiscal year.
Dynatrace announced that its board has approved a stock buyback plan on Tuesday, November 3rd that authorizes the company to buy back $1 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.3% of its shares through open market purchases. Share buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Insider Activity at Dynatrace
In related news, EVP Bernd Greifeneder sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $57.21, for a total value of $2,860,500.00. Following the completion of the sale, the executive vice president owned 904,846 shares of the company’s stock, valued at $51,766,239.66. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.69% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Dynatrace in the 3rd quarter valued at $39,000. CX Institutional raised its position in shares of Dynatrace by 1,119.0% during the second quarter. CX Institutional now owns 707 shares of the company’s stock worth $31,000 after acquiring an additional 649 shares during the last quarter. Elevation Wealth Partners LLC raised its position in shares of Dynatrace by 37.8% during the third quarter. Elevation Wealth Partners LLC now owns 929 shares of the company’s stock worth $54,000 after acquiring an additional 255 shares during the last quarter. Provenance Wealth Advisors LLC bought a new stake in shares of Dynatrace during the third quarter worth $61,000. Finally, Root Financial Partners LLC acquired a new position in shares of Dynatrace during the third quarter valued at $86,000. Institutional investors and hedge funds own 94.28% of the company’s stock.
Trending Headlines about Dynatrace
Here are the key news stories impacting Dynatrace this week:
- Positive Sentiment: Fiscal Q2 adjusted earnings of $0.54 per share beat the $0.49 consensus, while revenue of $579.9 million exceeded estimates of $568.0 million and grew 17.4% year over year. Dynatrace Q2 results
- Positive Sentiment: The board authorized up to $1 billion in share repurchases, equivalent to as much as 6.3% of shares outstanding. Buybacks can support per-share results and may signal management sees value in the stock.
- Positive Sentiment: Dynatrace and CrowdStrike announced a strategic partnership combining security and observability capabilities, which could strengthen their offerings to enterprise customers. Dynatrace and CrowdStrike partnership
- Neutral Sentiment: Needham cut its price target to $65 from $68, and BTIG lowered its target to $63 from $73; both firms kept Buy ratings. The cuts reflect more cautious expectations, while the retained ratings indicate continued analyst optimism.
- Negative Sentiment: Shares fell sharply in reaction to trimmed profit and cash-flow guidance. The acquisition’s impact on the outlook overshadowed the quarterly beat, suggesting investors are concerned about near-term costs or returns. Dynatrace outlook and share reaction
About Dynatrace
Dynatrace, Inc provides an observability and application security platform designed to help organizations monitor, analyze and optimize complex digital environments. Its software uses artificial intelligence and automation to provide visibility across applications, infrastructure, cloud services, logs, user experiences and business operations.
The company’s products support application performance monitoring, infrastructure monitoring, digital experience monitoring, log and analytics management, cloud automation and application security.
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