Raymond James Lowers Dynatrace (NYSE:DT) Price Target to $27.00

Dynatrace (NYSE:DT) had its price target lowered by Raymond James from $38.00 to $27.00 in a note issued to investors on Friday, The Fly reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 30.75% from the company’s previous close.

DT has been the subject of a number of other research reports. Citigroup raised their target price on shares of Dynatrace from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Zacks Investment Research cut shares of Dynatrace from a “buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Goldman Sachs Group dropped their price objective on shares of Dynatrace from $31.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $35.00 price objective on shares of Dynatrace in a research note on Wednesday, March 18th. Finally, BMO Capital Markets reiterated a “positive” rating and issued a $40.00 price objective on shares of Dynatrace in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Dynatrace currently has a consensus rating of “Buy” and an average target price of $29.97.

DT traded down $0.73 during mid-day trading on Friday, hitting $20.65. The stock had a trading volume of 1,531,503 shares, compared to its average volume of 2,645,854. The stock’s fifty day simple moving average is $28.58 and its 200-day simple moving average is $25.03. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60. Dynatrace has a 1-year low of $17.05 and a 1-year high of $37.06.

Dynatrace (NYSE:DT) last posted its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $143.30 million during the quarter, compared to analyst estimates of $137.59 million. During the same quarter last year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts anticipate that Dynatrace will post -0.55 EPS for the current year.

In related news, CEO Siclen John Van sold 55,000 shares of Dynatrace stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $35.59, for a total transaction of $1,957,450.00. Following the sale, the chief executive officer now directly owns 1,817,567 shares of the company’s stock, valued at approximately $64,687,209.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen J. Pace sold 60,000 shares of Dynatrace stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $24.81, for a total transaction of $1,488,600.00. Following the sale, the senior vice president now directly owns 542,059 shares in the company, valued at $13,448,483.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 696,007 shares of company stock worth $22,288,040.

Several institutional investors have recently made changes to their positions in the stock. FIL Ltd grew its holdings in shares of Dynatrace by 54.2% during the 4th quarter. FIL Ltd now owns 10,673,478 shares of the company’s stock valued at $270,039,000 after purchasing an additional 3,750,957 shares during the last quarter. Dragoneer Investment Group LLC grew its holdings in shares of Dynatrace by 13.2% during the 4th quarter. Dragoneer Investment Group LLC now owns 7,775,051 shares of the company’s stock valued at $196,709,000 after purchasing an additional 905,316 shares during the last quarter. Pathway Capital Management LP bought a new stake in Dynatrace during the 4th quarter worth approximately $115,161,000. Altimeter Capital Management LP grew its holdings in Dynatrace by 33.3% during the 4th quarter. Altimeter Capital Management LP now owns 1,000,000 shares of the company’s stock worth $25,300,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Honeycomb Asset Management LP bought a new stake in Dynatrace during the 4th quarter worth approximately $24,668,000. 90.47% of the stock is currently owned by institutional investors.

About Dynatrace

Dynatrace, Inc provides a software intelligence platform for the enterprise cloud applications. It offers Dynatrace, a platform for running an enterprise cloud. The company's products include AppMon, Classic Real User Monitoring, Network Application Monitoring, and Synthetic Classic. Its platform allows its customers to modernize and automate IT operations, develop and release software, and enhance user experiences.

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