$147.10 Million in Sales Expected for Datto Holding Corp. (NYSE:MSP) This Quarter

Wall Street analysts forecast that Datto Holding Corp. (NYSE:MSP) will announce sales of $147.10 million for the current quarter, Zacks reports. Two analysts have issued estimates for Datto’s earnings. The lowest sales estimate is $147.00 million and the highest is $147.20 million. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 11th.

According to Zacks, analysts expect that Datto will report full-year sales of $597.49 million for the current fiscal year, with estimates ranging from $597.00 million to $598.36 million. For the next fiscal year, analysts forecast that the firm will post sales of $687.12 million, with estimates ranging from $676.50 million to $695.46 million. Zacks’ sales averages are an average based on a survey of research firms that cover Datto.

Datto (NYSE:MSP) last released its quarterly earnings data on Tuesday, May 11th. The investment management company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $144.90 million during the quarter, compared to the consensus estimate of $143.00 million. The business’s quarterly revenue was up 16.2% compared to the same quarter last year.

MSP has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Datto from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 18th. Royal Bank of Canada reduced their price objective on Datto from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, March 8th. Mizuho reduced their price objective on Datto from $35.00 to $31.00 in a research note on Friday, March 12th. Finally, BMO Capital Markets lowered their price target on Datto from $38.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, March 9th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Datto currently has an average rating of “Hold” and a consensus target price of $33.10.

In other Datto news, CRO Sanjay Kumar Singh sold 1,500 shares of Datto stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $27.04, for a total transaction of $40,560.00. Following the transaction, the executive now owns 151,500 shares of the company’s stock, valued at $4,096,560. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Robert Raymond Petrocelli sold 5,059 shares of Datto stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $27.27, for a total value of $137,958.93. Following the transaction, the chief technology officer now directly owns 155,059 shares in the company, valued at approximately $4,228,458.93. The disclosure for this sale can be found here. Insiders have sold a total of 118,012 shares of company stock worth $3,166,377 in the last three months.

Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Datto by 70.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 39,153 shares of the investment management company’s stock valued at $897,000 after purchasing an additional 16,181 shares during the last quarter. Tiger Global Management LLC purchased a new position in shares of Datto in the 4th quarter valued at approximately $40,500,000. Federated Hermes Inc. purchased a new position in shares of Datto in the 4th quarter valued at approximately $16,200,000. Laurion Capital Management LP purchased a new position in shares of Datto in the 4th quarter valued at approximately $459,000. Finally, Caas Capital Management LP purchased a new position in shares of Datto in the 4th quarter valued at approximately $5,400,000. Institutional investors own 86.49% of the company’s stock.

Datto stock traded down $0.02 during trading hours on Tuesday, reaching $26.73. The stock had a trading volume of 5,605 shares, compared to its average volume of 418,962. Datto has a 52 week low of $22.30 and a 52 week high of $33.46. The company has a market capitalization of $4.31 billion and a P/E ratio of 78.14. The stock has a 50 day moving average of $25.31.

Datto Company Profile

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 Windows-based 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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