Dynatrace (NYSE:DT) Given New $69.00 Price Target at Royal Bank of Canada

Dynatrace (NYSE:DT) had its price target hoisted by research 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 suggests a potential upside of 17.91% from the company’s previous close.

Several other research analysts also recently commented on the stock. Wedbush assumed coverage on shares of Dynatrace in a report on Thursday, October 17th. They issued an “outperform” rating and a $67.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Dynatrace in a research report on Friday. Guggenheim reiterated a “neutral” rating on shares of Dynatrace in a research note on Friday. Loop Capital raised their target price on Dynatrace from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Truist Financial upped their price target on Dynatrace from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.08.

Dynatrace Stock Performance

NYSE DT traded up $0.75 on Friday, hitting $58.52. 1,177,894 shares of the stock traded hands, compared to its average volume of 3,603,300. The business’s fifty day moving average is $54.75 and its two-hundred day moving average is $51.92. Dynatrace has a 12 month low of $39.42 and a 12 month high of $61.41. The firm has a market capitalization of $17.47 billion, a price-to-earnings ratio of 106.66, a PEG ratio of 8.34 and a beta of 1.02.

Insider Activity at Dynatrace

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Dynatrace by 91.2% during the 2nd quarter. AQR Capital Management LLC now owns 148,130 shares of the company’s stock valued at $6,593,000 after purchasing an additional 70,642 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Dynatrace by 20.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,525 shares of the company’s stock valued at $292,000 after buying an additional 1,090 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of Dynatrace by 3.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 8,767 shares of the company’s stock valued at $392,000 after acquiring an additional 266 shares in the last quarter. Cetera Investment Advisers lifted its stake in Dynatrace by 7.0% in the second quarter. Cetera Investment Advisers now owns 43,528 shares of the company’s stock worth $1,947,000 after acquiring an additional 2,843 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Dynatrace in the second quarter valued at $567,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

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.