Dynatrace (NYSE:DT) Reaches New 52-Week Low on Analyst Downgrade
by Kim Johansen · The Markets DailyDynatrace, Inc. (NYSE:DT – Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday after Cantor Fitzgerald lowered their price target on the stock from $51.00 to $37.00. Cantor Fitzgerald currently has a neutral rating on the stock. Dynatrace traded as low as $33.85 and last traded at $34.4850, with a volume of 10141439 shares trading hands. The stock had previously closed at $38.05.
DT has been the subject of several other reports. Jefferies Financial Group lowered their price target on shares of Dynatrace from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. TD Cowen decreased their target price on shares of Dynatrace from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Barclays dropped their price target on Dynatrace from $62.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. KeyCorp reduced their price objective on Dynatrace from $60.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Scotiabank dropped their target price on Dynatrace from $67.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Dynatrace presently has an average rating of “Moderate Buy” and a consensus price target of $58.32.
Get Our Latest Stock Analysis on DT
Insider Transactions at Dynatrace
In other news, CAO Daniel S. Yates sold 2,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $46.69, for a total transaction of $93,380.00. Following the sale, the chief accounting officer directly owned 23,380 shares in the company, valued at approximately $1,091,612.20. This represents a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dan Zugelder sold 7,505 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $45.27, for a total value of $339,751.35. Following the transaction, the executive vice president owned 8,925 shares of the company’s stock, valued at approximately $404,034.75. The trade was a 45.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 39,843 shares of company stock worth $1,846,424. 0.57% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Dynatrace
Several large investors have recently modified their holdings of DT. Vanguard Group Inc. grew its stake in Dynatrace by 2.4% in the third quarter. Vanguard Group Inc. now owns 32,142,909 shares of the company’s stock valued at $1,557,324,000 after purchasing an additional 739,895 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Dynatrace by 16.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,648,533 shares of the company’s stock valued at $634,985,000 after acquiring an additional 2,076,990 shares during the last quarter. State Street Corp raised its position in shares of Dynatrace by 2.8% in the third quarter. State Street Corp now owns 10,562,363 shares of the company’s stock valued at $511,746,000 after purchasing an additional 286,352 shares during the period. American Century Companies Inc. grew its stake in Dynatrace by 0.9% in the 3rd quarter. American Century Companies Inc. now owns 7,919,446 shares of the company’s stock valued at $383,697,000 after buying an additional 73,827 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Dynatrace by 719.3% in the third quarter. Wellington Management Group LLP now owns 7,340,127 shares of the company’s stock worth $355,629,000 after purchasing an additional 6,444,262 shares during the period. 94.28% of the stock is owned by institutional investors.
Dynatrace Stock Performance
The firm’s 50-day simple moving average is $42.18 and its 200-day simple moving average is $46.54. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 2.64 and a beta of 0.84.
Dynatrace (NYSE:DT – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $493.85 million during the quarter, compared to analysts’ expectations of $487.33 million. Dynatrace had a return on equity of 9.24% and a net margin of 27.33%.Dynatrace’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. Equities research analysts forecast that Dynatrace, Inc. will post 0.68 earnings per share for the current year.
Dynatrace Company Profile
Dynatrace is a global software intelligence company specializing in application performance management (APM), cloud infrastructure monitoring, and digital experience management. Its flagship offering, the Dynatrace Software Intelligence Platform, leverages artificial intelligence to provide real-time observability across distributed environments, including on-premises data centers, private clouds, public clouds and hybrid deployments. Organizations rely on Dynatrace to detect anomalies, troubleshoot performance issues and optimize end-user experiences through automated root-cause analysis powered by the company’s engine, Davis.
The Dynatrace platform comprises modules for full-stack application monitoring, digital experience monitoring, infrastructure monitoring and business analytics.