JPMorgan Chase & Co. Issues Positive Forecast for Dynatrace (NYSE:DT) Stock Price

Dynatrace (NYSE:DT) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $55.00 to $60.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 8.89% from the company’s previous close.

A number of other equities research analysts also recently weighed in on DT. Scotiabank boosted their price objective on shares of Dynatrace from $52.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 8th. Barclays upgraded Dynatrace from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $64.00 in a report on Monday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Dynatrace in a research report on Tuesday, August 6th. Wedbush assumed coverage on shares of Dynatrace in a research note on Thursday, October 17th. They issued an “outperform” rating and a $67.00 price objective on the stock. Finally, BNP Paribas assumed coverage on Dynatrace in a research note on Tuesday, October 8th. They set a “neutral” rating and a $52.00 price objective for the company. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dynatrace has an average rating of “Moderate Buy” and a consensus price target of $60.46.

Dynatrace Stock Performance

Dynatrace stock traded up $0.01 during trading on Wednesday, reaching $55.10. The company had a trading volume of 491,231 shares, compared to its average volume of 3,320,733. The firm has a market capitalization of $16.41 billion, a price-to-earnings ratio of 105.96, a PEG ratio of 7.93 and a beta of 1.06. The stock’s 50 day moving average price is $52.21 and its two-hundred day moving average price is $47.90. Dynatrace has a 12-month low of $39.42 and a 12-month high of $61.41.

Dynatrace (NYSE:DT) last posted its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Dynatrace had a net margin of 10.36% and a return on equity of 9.77%. The business had revenue of $399.20 million for the quarter, compared to analyst estimates of $392.22 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, research analysts expect that Dynatrace will post 0.71 earnings per share for the current year.

Insider Activity

In other news, EVP Dan Zugelder sold 11,022 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $49.71, for a total transaction of $547,903.62. Following the completion of the sale, the executive vice president now owns 217,465 shares in the company, valued at $10,810,185.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Dynatrace news, EVP Dan Zugelder sold 11,022 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $49.71, for a total transaction of $547,903.62. Following the completion of the sale, the executive vice president now owns 217,465 shares in the company, valued at approximately $10,810,185.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rick M. Mcconnell sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $51.50, for a total value of $2,575,000.00. Following the sale, the chief executive officer now directly owns 650,587 shares in the company, valued at approximately $33,505,230.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,022 shares of company stock worth $3,397,904. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dynatrace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DT. Gulf International Bank UK Ltd boosted its holdings in shares of Dynatrace by 10.9% during the third quarter. Gulf International Bank UK Ltd now owns 22,120 shares of the company’s stock worth $1,182,000 after acquiring an additional 2,167 shares during the period. QRG Capital Management Inc. grew its holdings in Dynatrace by 41.8% in the 3rd quarter. QRG Capital Management Inc. now owns 54,848 shares of the company’s stock valued at $2,933,000 after buying an additional 16,178 shares in the last quarter. Coronation Fund Managers Ltd. increased its position in Dynatrace by 53.9% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 286,402 shares of the company’s stock worth $15,314,000 after buying an additional 100,262 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Dynatrace by 154.2% during the third quarter. Harbor Capital Advisors Inc. now owns 105,144 shares of the company’s stock worth $5,622,000 after buying an additional 63,782 shares in the last quarter. Finally, F M Investments LLC raised its position in shares of Dynatrace by 62.4% in the third quarter. F M Investments LLC now owns 104,635 shares of the company’s stock valued at $5,595,000 after buying an additional 40,190 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

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.