On Nov 08, major Wall Street analysts update their ratings for $Dynatrace (DT.US)$, with price targets ranging from $60 to $65.
Citi analyst Fatima Boolani maintains with a buy rating, and sets the target price at $65.
Barclays analyst Raimo Lenschow maintains with a buy rating, and maintains the target price at $64.
Wells Fargo analyst Andrew Nowinski maintains with a buy rating, and adjusts the target price from $55 to $65.
TD Cowen analyst Andrew Sherman maintains with a buy rating, and adjusts the target price from $60 to $65.
Guggenheim analyst Ray McDonough maintains with a buy rating, and maintains the target price at $64.
Furthermore, according to the comprehensive report, the opinions of $Dynatrace (DT.US)$'s main analysts recently are as follows:
Following Dynatrace's Q2 earnings surpassing expectations, analysts observed the company's total annual recurring revenue growth has been consistent at around 19%-20% year-over-year over the last three quarters. This consistency is providing investors with a sense of ease amidst the heightened execution risks associated with changes in the sales organization and longer sales cycles that come with larger deal sizes. Additionally, early renewals were noted this quarter, possibly influenced by the company's six-month sales compensation cycle, which tends to encourage sales activities in the first half of the year.
The company showcased robust second-quarter performance, surpassing expectations on both revenue and recurring revenue fronts, with the latter exceeding predictions by $30M, a success attributed to both favorable currency exchange conditions and a surge in expansion bookings. Analysts acknowledge that while an increase in annual recurring revenue was anticipated, underlying business trends are looking favorable, with momentum building towards 2025. Contributing factors include a rising adoption of the Dynatrace Platform Subscription, the company's strength in log management, and a maturation in sales reforms as customers increasingly favor a unified observability platform.
Here are the latest investment ratings and price targets for $Dynatrace (DT.US)$ from 10 analysts:
Note:
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