In a report issued on May 12, Kash Rangan from Merrill Lynch reiterated a Buy rating on Dynatrace (DT), with a price target of $40.00. The company’s shares closed last Monday at $42.40, close to its 52-week high of $44.65.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 17.8% and a 72.0% success rate. Rangan covers the Technology sector, focusing on stocks such as Salesforce, ServiceNow, and Microsoft.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Dynatrace with a $41.67 average price target, representing a -1.4% downside. In a report issued on May 7, Needham also initiated coverage with a Buy rating on the stock with a $36.00 price target.
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Based on Dynatrace’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $151 million and net profit of $46.7 million. In comparison, last year the company earned revenue of $116 million and had a GAAP net loss of $30.6 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DT in relation to earlier this year.
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Dynatrace, Inc. offers software intelligence platform, purpose-built for the enterprise cloud. The firm’s platform utilizes artificial intelligence at its core and advanced automation to provide answers, not just data, about the performance of applications, the underlying hybrid cloud infrastructure, and the experience of the customers’ users. It specializes in cloud ecosystem integration, incident and alert management integration, DevOps CI/CD integration, user experience and business intelligence insights. The company was founded in 2014 and is headquartered in Waltham, MA.
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