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

Dynatrace (NYSE:DT) had its price target hoisted by investment analysts at Royal Bank of Canada from $65.00 to $69.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 19.35% from the company’s previous close.

A number of other equities research analysts have also weighed in on DT. Jefferies Financial Group boosted their target price on shares of Dynatrace from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Dynatrace in a report on Tuesday, October 8th. They set a “neutral” rating and a $52.00 target price on the stock. Guggenheim reissued a “neutral” rating on shares of Dynatrace in a report on Friday. UBS Group started coverage on shares of Dynatrace in a report on Wednesday, November 27th. They set a “neutral” rating and a $58.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dynatrace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.24.

Dynatrace Price Performance

DT stock opened at $57.82 on Friday. The company has a 50 day simple moving average of $54.80 and a 200 day simple moving average of $52.02. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 105.12, a P/E/G ratio of 8.34 and a beta of 1.02. Dynatrace has a 1 year low of $39.42 and a 1 year high of $61.41.

Insider Buying and Selling

In other Dynatrace news, EVP Bernd Greifeneder sold 50,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total transaction of $2,891,500.00. Following the transaction, the executive vice president now owns 1,007,038 shares in the company, valued at approximately $58,237,007.54. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Riverview Trust Co raised its holdings 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 buying an additional 257 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Dynatrace by 292.3% in the third quarter. UMB Bank n.a. now owns 718 shares of the company’s stock valued at $38,000 after purchasing an additional 535 shares during the last quarter. Paladin Wealth LLC purchased a new stake in shares of Dynatrace in the third quarter valued at about $38,000. Nisa Investment Advisors LLC raised its holdings in shares of Dynatrace by 271.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 725 shares of the company’s stock valued at $39,000 after purchasing an additional 530 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Dynatrace in the third quarter valued at about $52,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.