Datto (NYSE:MSP) Stock Rating Lowered by William Blair

Datto (NYSE:MSPGet Rating) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other equities research analysts have also issued reports on MSP. Morgan Stanley dropped their price objective on shares of Datto from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Northland Securities set a $42.00 price objective on shares of Datto in a research note on Tuesday, January 4th. StockNews.com began coverage on shares of Datto in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded shares of Datto from a “hold” rating to a “sell” rating in a research report on Wednesday, March 2nd. Finally, Mizuho dropped their price objective on shares of Datto from $31.00 to $28.00 in a report on Tuesday, January 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.63.

Shares of Datto stock traded up $5.93 during trading hours on Monday, hitting $34.65. The company’s stock had a trading volume of 719,929 shares, compared to its average volume of 396,571. Datto has a 1-year low of $20.76 and a 1-year high of $29.12. The business has a fifty day moving average of $25.18 and a 200 day moving average of $24.70. The company has a market capitalization of $5.68 billion, a PE ratio of 115.47, a P/E/G ratio of 12.10 and a beta of 0.73.

Datto (NYSE:MSPGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The investment management company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Datto had a return on equity of 4.05% and a net margin of 8.31%. The business had revenue of $164.25 million during the quarter, compared to analyst estimates of $162.16 million. Analysts anticipate that Datto will post 0.32 EPS for the current year.

In other Datto news, insider Christopher Edward Mccloskey sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, April 6th. The shares were sold at an average price of $29.01, for a total transaction of $34,812.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Robert Raymond Petrocelli sold 44,964 shares of the firm’s stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $23.59, for a total transaction of $1,060,700.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,783 shares of company stock worth $6,652,944. 5.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. AE Wealth Management LLC acquired a new position in shares of Datto in the 4th quarter worth approximately $742,000. Geode Capital Management LLC grew its stake in shares of Datto by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 280,088 shares of the investment management company’s stock worth $6,694,000 after purchasing an additional 5,382 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Datto by 258.8% in the 3rd quarter. Renaissance Technologies LLC now owns 287,400 shares of the investment management company’s stock worth $6,869,000 after purchasing an additional 207,300 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Datto in the 4th quarter worth approximately $11,686,000. Finally, Versor Investments LP acquired a new position in shares of Datto in the 3rd quarter worth approximately $206,000. 88.14% of the stock is currently owned by institutional investors.

About Datto (Get Rating)

Datto Holding Corp. provides cloud-based software and technology solutions for delivery through the managed service provider (MSP) channel to small and medium businesses in the United States and internationally. Its Unified Continuity products include Business Continuity and Disaster Recovery that protects servers and workstations, and minimize downtime; Cloud Continuity, an image-based continuity solution for laptops and desktops; SaaS Protection +, an automated and secure backup and restoration product; Workplace, a cloud-hosted file sync and share solution, which enable end-users to synchronize files across platforms, including mobile devices; and File Protection, an MSP-managed secure and scalable backup product that enables MSPs to protect and recover files and folders on workstations and laptops.

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