Dynatrace Inc. (DT) PT Lowered to $56 at BMO Capital

BMO Capital analyst Keith Bachman lowered the price target on Dynatrace Inc. (NYSE: DT) to $56.00 (from $62.00) while maintaining a Outperform rating.

The analyst commented: "Despite DT’s platform strengths and related logs growth optimism, we think the upcoming September quarter presents modest upside with respect to ARR, as mentioned previously. Hence, we are lowering our DT target price to $56. Our new target price is based on 7x EV/FY27E revenue, 26-27x EV/FY27E FCF and ~1.8-1.9x (EV/FY27E FCF)/revenue growth. Our previous target price of $62 was based on 7-8x EV/FY27E revenue, 29-30x EV/FY27E FCF and ~2.1x (EV/FY27E FCF)/revenue growth. We are not changing any estimates. While we are lowering our target price, we think DT’s valuation remains attractive."

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