Stifel raised the firm’s price target on Dynatrace (DT) to $64 from $58 and keeps a Buy rating on the shares. The company delivered “strong” Q2 results on the top and bottom-lines, with annual recurring revenue beating Wall Street expectations by $30M driven equally by foreign exchange tailwinds and strength in expansion bookings, the analyst tells investors in a research note. The firm added that while it was expecting some level of ARR raise, it believes business trends remain positive with accelerating tailwinds heading into 2025 and Dynatrace Platform Subscription contracting mix growing, log management momentum and maturing sales changes as customers increasingly look to consolidate on an end-to-end observability-platform.
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Read More on DT:
- Morning Movers: Under Armour and Lyft soar following earnings
- Dynatrace reports Q2 non-GAAP EPS 37c, consensus 32c
- Dynatrace sees Q3 non-GAAP EPS 32c-33c, consensus 32c
- Dynatrace raises FY25 non-GAAP EPS view to $1.31-$1.33 from $1.26-$1.29
- Notable companies reporting before tomorrow’s open
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