Royal Bank of Canada Forecasts Strong Price Appreciation for Dynatrace (NYSE:DT) Stock

Dynatrace (NYSE:DT) had its target price lifted by investment analysts at Royal Bank of Canada from $60.00 to $65.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 18.59% from the company’s current price.

A number of other analysts have also weighed in on the company. JPMorgan Chase & Co. upped their price objective on Dynatrace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Dynatrace from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Loop Capital lifted their price objective on Dynatrace from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their price objective on Dynatrace from $53.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, BTIG Research raised their target price on shares of Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.08.

Dynatrace Stock Performance

NYSE DT opened at $54.81 on Friday. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 99.65, a PEG ratio of 8.20 and a beta of 1.01. The firm has a 50 day simple moving average of $54.86 and a 200-day simple moving average of $50.71. Dynatrace has a one year low of $39.42 and a one year high of $61.41.

Insider Activity at Dynatrace

In related news, Director Stephen J. Lifshatz sold 5,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the director now owns 41,471 shares in the company, valued at $2,280,905. The trade was a 10.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bernd Greifeneder sold 50,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 55,027 shares of company stock worth $3,168,084 in the last 90 days. 0.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Dynatrace

Several institutional investors have recently bought and sold shares of DT. State Street Corp lifted its stake in shares of Dynatrace by 14.6% in the 3rd quarter. State Street Corp now owns 9,468,594 shares of the company’s stock worth $506,286,000 after acquiring an additional 1,207,621 shares during the period. American Century Companies Inc. boosted its holdings in Dynatrace by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 6,701,539 shares of the company’s stock valued at $299,827,000 after purchasing an additional 782,588 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Dynatrace by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock valued at $273,610,000 after purchasing an additional 884,673 shares in the last quarter. RGM Capital LLC increased its position in Dynatrace by 12.8% during the 3rd quarter. RGM Capital LLC now owns 4,342,803 shares of the company’s stock worth $232,210,000 after purchasing an additional 494,028 shares during the period. Finally, Eminence Capital LP purchased a new position in shares of Dynatrace during the 2nd quarter worth approximately $158,369,000. 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.