On October 12, 2023, investment analysts at DA Davidson upgraded the rating of Dynatrace (NYSE:DT) from “neutral” to “buy.” This upgrade came as positive news for the company and its investors.
On Wednesday, DT traded down $0.47, reaching $48.18, with a total of 1,469,564 shares exchanged. This is compared to its average volume of 2,675,036 shares. The market cap of Dynatrace stands at $14.13 billion with a price-to-earnings ratio of 98.33 and a P/E/G ratio of 8.14. The company also has a beta value of 1.09, indicating moderate volatility in relation to the overall market performance.
Over the past 12 months, Dynatrace has experienced significant price movement, with a low of $31.54 and a high of $55.87. Currently, it is trading near the lower end of this range. The stock’s 50-day moving average is $47.03, while its two-hundred day moving average is slightly higher at $47.71.
The positive analyst rating coincides with some recent changes in the holdings of hedge funds invested in Dynatrace. Torray Investment Partners LLC increased its stake in Dynatrace by 0.6% during the second quarter while Advisory Services Network LLC boosted its holding by 50.9% in the first quarter.
Additionally, other hedge funds such as Zions Bancorporation N.A., Kestra Advisory Services LLC, and Hennion & Walsh Asset Management Inc., have also made modifications to their positions in Dynatrace over the last few quarters.
Looking at the company’s recent earnings report released on August 2nd, Dynatrace exceeded expectations with earnings per share of $0.16 for the quarter compared to a consensus estimate of $0.08. The net margin was reported at 11.77%, and the return on equity stood at 11.81%. Furthermore, the firm’s quarterly revenue reached $332.89 million, surpassing analysts’ expectations of $326.89 million.
Analysts are optimistic about Dynatrace’s future performance, with a forecast of 0.61 earnings per share for the current year.
Overall, Dynatrace’s stock upgrade to a “buy” rating by DA Davidson has garnered attention from investors and market observers alike. With recent positive financial results and hedge funds adjusting their positions in the company, Dynatrace seems to be heading in a direction that inspires confidence among market participants.
Dynatrace Receives Positive Attention from Equities Analysts and Insider Transactions
Dynatrace, a software intelligence company, has recently received positive attention from equities research analysts. Several analysts have issued reports on Dynatrace, providing target prices and ratings for the company.
Rosenblatt Securities increased their target price on Dynatrace shares from $54.00 to $58.00 and gave the company a “buy” rating in a research report on August 1st. JPMorgan Chase & Co. also raised their target price on the shares from $53.00 to $57.00 on July 26th. Canaccord Genuity Group upped their price target from $53.00 to $55.00 and maintained a “buy” rating in their report on August 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a target price of $65.00 for Dynatrace shares on September 18th. Finally, Robert W. Baird increased their price objective from $53.00 to $59.00 and gave the company an “outperform” rating in a research note on July 31st.
Out of all the analysts, five have given a hold rating while sixteen have provided a buy rating to Dynatrace’s stock. The Bloomberg data suggests that the company currently holds an average rating of “Moderate Buy”, with an average target price of $53.68.
In other news related to Dynatrace, Chief Accounting Officer (CAO) Alicia Allen sold 1,500 shares of the company’s stock on July 17th at an average price of $54.96 per share, resulting in a total transaction value of $82,440. Following this sale, Allen now owns 92,680 shares in Dynatrace, valued at approximately $5,093,692.80.
Furthermore, CEO Rick M. Mcconnell sold 14,053 shares of Dynatrace’s stock on September 6th at an average price of $47.10 per share, amounting to a total value of $661,896.30. After this transaction, Mcconnell holds 578,952 shares of the company’s stock, valued at around $27,268,639.20. These sales were disclosed in documents filed with the Securities & Exchange Commission.
It is worth noting that Alicia Allen also sold 1,500 shares of Dynatrace stock on July 17th at an average price of $54.96 per share, totaling $82,440. Following this sale, Allen’s ownership of the company amounted to 92,680 shares valued at approximately $5,093,692.80. The full disclosure for this sale can be accessed through the Securities & Exchange Commission’s website.
Over the past three months alone, insiders have collectively sold 37,393 shares of Dynatrace stock with a total value of $1,750,385. Insiders currently hold 0.54% of the company’s stock.
These recent reports from equities analysts and insider transactions shed light on Dynatrace’s performance in the market and offer valuable insights for investors who are considering their positions in the company’s stock. As always, it is important to conduct thorough research and consult with financial advisors before making any investment decisions.
Note: This article is purely informative and should not be considered as a recommendation to buy or sell stocks accompanying its content related to dynaTRACE or any other company mentioned in it.