Datto’s (MSP) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Datto (NYSE:MSPGet Rating) in a research note released on Monday, The Fly reports.

Other equities analysts have also recently issued reports about the stock. StockNews.com began coverage on shares of Datto in a research note on Thursday, March 31st. They issued a hold rating on the stock. Mizuho reduced their price objective on shares of Datto from $31.00 to $28.00 in a research note on Tuesday, January 18th. Zacks Investment Research cut shares of Datto from a hold rating to a sell rating in a research note on Wednesday, March 2nd. Morgan Stanley reduced their price objective on shares of Datto from $36.00 to $34.00 and set an overweight rating on the stock in a research note on Friday, February 25th. Finally, Northland Securities set a $42.00 price objective on shares of Datto in a research note on Tuesday, January 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Datto has an average rating of Buy and a consensus target price of $31.63.

MSP opened at $34.65 on Monday. Datto has a one year low of $20.76 and a one year high of $34.76. The company’s 50 day simple moving average is $25.37 and its 200-day simple moving average is $24.78. The stock has a market capitalization of $5.68 billion, a P/E ratio of 115.50, a price-to-earnings-growth ratio of 12.10 and a beta of 0.73.

Datto (NYSE:MSPGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The investment management company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). Datto had a net margin of 8.31% and a return on equity of 4.05%. The company had revenue of $164.25 million for the quarter, compared to the consensus estimate of $162.16 million. As a group, sell-side analysts anticipate that Datto will post 0.32 EPS for the current fiscal year.

In other Datto news, CAO William Severance sold 1,826 shares of Datto stock in a transaction on Wednesday, April 6th. The shares were sold at an average price of $29.00, for a total value of $52,954.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Edward Mccloskey sold 1,200 shares of Datto 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,783 shares of company stock worth $6,652,944. 5.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MSP. Marshall Wace LLP bought a new position in shares of Datto in the 4th quarter valued at about $33,000. Royal Bank of Canada grew its position in shares of Datto by 67.3% in the 2nd quarter. Royal Bank of Canada now owns 1,310 shares of the investment management company’s stock valued at $36,000 after acquiring an additional 527 shares during the period. Signaturefd LLC grew its position in shares of Datto by 124.7% in the 4th quarter. Signaturefd LLC now owns 1,676 shares of the investment management company’s stock valued at $44,000 after acquiring an additional 930 shares during the period. JJJ Advisors Inc. boosted its holdings in shares of Datto by 133.2% during the 4th quarter. JJJ Advisors Inc. now owns 2,267 shares of the investment management company’s stock worth $60,000 after buying an additional 1,295 shares during the period. Finally, First Manhattan Co. boosted its holdings in shares of Datto by 18.9% during the 3rd quarter. First Manhattan Co. now owns 4,400 shares of the investment management company’s stock worth $105,000 after buying an additional 700 shares during the period. 88.14% of the stock is owned by institutional investors.

Datto Company Profile (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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