Dynatrace (NYSE:DT) Reaches New 12-Month High – Should You Buy?

Dynatrace, Inc. (NYSE:DT)’s share price hit a new 52-week high on Thursday . The company traded as high as $61.24 and last traded at $61.00, with a volume of 164721 shares changing hands. The stock had previously closed at $60.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DT shares. Royal Bank of Canada boosted their price objective on shares of Dynatrace from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $57.00 price target on shares of Dynatrace in a report on Thursday. BTIG Research lifted their price objective on Dynatrace from $57.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. BMO Capital Markets upped their target price on Dynatrace from $53.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Loop Capital lifted their price target 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. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dynatrace presently has a consensus rating of “Moderate Buy” and an average target price of $62.08.

Dynatrace Stock Performance

The business’s 50-day simple moving average is $55.21 and its 200-day simple moving average is $52.57. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 8.37 and a beta of 1.04.

Insider Activity at Dynatrace

In other Dynatrace news, EVP Bernd Greifeneder sold 50,000 shares of the stock in a transaction dated 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 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 filing with the SEC, which can be accessed through the SEC website. 0.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dynatrace

A number of hedge funds and other institutional investors have recently made changes to their positions in DT. Holocene Advisors LP acquired a new stake in shares of Dynatrace during the third quarter worth about $126,592,000. Raymond James Financial Inc. acquired a new position in shares of Dynatrace in the fourth quarter valued at approximately $102,209,000. TimesSquare Capital Management LLC acquired a new position in shares of Dynatrace in the fourth quarter valued at approximately $73,906,000. State Street Corp raised its holdings in shares of Dynatrace by 14.6% during the third quarter. State Street Corp now owns 9,468,594 shares of the company’s stock worth $506,286,000 after acquiring an additional 1,207,621 shares during the period. Finally, Barclays PLC boosted its stake in Dynatrace by 85.3% in the 3rd quarter. Barclays PLC now owns 2,133,462 shares of the company’s stock worth $114,076,000 after purchasing an additional 981,964 shares during the period. 94.28% of the stock is owned by institutional investors.

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.