Dynatrace (NYSE:DT) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Dynatrace (NYSE:DT) had its target price hoisted by research analysts at Morgan Stanley from $59.00 to $62.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 7.24% from the company’s current price.

Several other research analysts have also weighed in on DT. Loop Capital lifted their price objective on shares of Dynatrace from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Dynatrace from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Guggenheim reaffirmed a “neutral” rating on shares of Dynatrace in a research note on Wednesday, January 22nd. BTIG Research lifted their price objective on shares of Dynatrace from $57.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Scotiabank lifted their price objective on shares of Dynatrace from $55.00 to $62.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.24.

Dynatrace Price Performance

Dynatrace stock opened at $57.82 on Friday. The company’s 50 day simple moving average is $54.80 and its 200 day simple moving average is $52.02. Dynatrace has a fifty-two week low of $39.42 and a fifty-two week high of $61.41. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 105.12, a PEG ratio of 8.34 and a beta of 1.02.

Insider Activity

In other news, EVP Bernd Greifeneder sold 50,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $57.83, for a total value of $2,891,500.00. Following the completion of the transaction, the executive vice president now owns 1,007,038 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Retirement Systems of Alabama increased its position in Dynatrace by 21.9% during the 3rd quarter. Retirement Systems of Alabama now owns 361,884 shares of the company’s stock valued at $19,350,000 after purchasing an additional 64,999 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Dynatrace by 20.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,127,967 shares of the company’s stock worth $273,610,000 after purchasing an additional 884,673 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Dynatrace by 27.8% in the 3rd quarter. Synovus Financial Corp now owns 64,093 shares of the company’s stock worth $3,427,000 after purchasing an additional 13,957 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Dynatrace by 56.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 26,303 shares of the company’s stock valued at $1,406,000 after acquiring an additional 9,444 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Dynatrace by 6.6% during the 3rd quarter. Swiss National Bank now owns 840,801 shares of the company’s stock valued at $44,958,000 after acquiring an additional 52,000 shares in the last quarter. Institutional investors and hedge funds 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.