JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Dynatrace (NYSE:DT) Stock

Dynatrace (NYSE:DT) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $55.00 to $60.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.59% from the stock’s current price.

DT has been the topic of several other research reports. BNP Paribas initiated coverage on Dynatrace in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $52.00 target price on the stock. Wedbush started coverage on shares of Dynatrace in a research report on Thursday, October 17th. They set an “outperform” rating and a $67.00 target price for the company. Wells Fargo & Company cut their price target on shares of Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Guggenheim increased their price objective on Dynatrace from $55.00 to $64.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, BTIG Research upped their target price on Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Dynatrace has a consensus rating of “Moderate Buy” and an average price target of $60.46.

Dynatrace Price Performance

Shares of Dynatrace stock opened at $53.77 on Wednesday. Dynatrace has a 1 year low of $39.42 and a 1 year high of $61.41. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 103.40, a PEG ratio of 7.93 and a beta of 1.06. The firm’s 50-day moving average is $52.37 and its two-hundred day moving average is $48.00.

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

Insiders Place Their Bets

In other news, EVP Dan Zugelder sold 11,022 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $49.71, for a total value of $547,903.62. Following the completion of the transaction, the executive vice president now owns 217,465 shares of the company’s stock, valued at $10,810,185.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Dan Zugelder sold 11,022 shares of Dynatrace stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 217,465 shares of the company’s stock, valued at $10,810,185.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rick M. Mcconnell sold 50,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $51.50, for a total transaction of $2,575,000.00. Following the sale, the chief executive officer now directly owns 650,587 shares in the company, valued at $33,505,230.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,022 shares of company stock valued at $3,397,904. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Dynatrace

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its holdings in Dynatrace by 76.7% in the first quarter. Geneos Wealth Management Inc. now owns 530 shares of the company’s stock valued at $25,000 after purchasing an additional 230 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Dynatrace in the 2nd quarter valued at $26,000. Versant Capital Management Inc increased its holdings in Dynatrace by 3,813.3% in the 2nd quarter. Versant Capital Management Inc now owns 587 shares of the company’s stock worth $26,000 after acquiring an additional 572 shares in the last quarter. Riverview Trust Co raised its position in Dynatrace by 70.6% during the third quarter. Riverview Trust Co now owns 621 shares of the company’s stock worth $33,000 after acquiring an additional 257 shares during the period. Finally, Paladin Wealth LLC purchased a new position in Dynatrace during the third quarter valued at $38,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.