Dynatrace Inc. (DT) PT Raised to $73 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the price target on Dynatrace Inc. (NYSE: DT) to $73.00 (from $59.00) while maintaining a Outperform rating.

The analyst commented: "Based on strong checks, we expect slight upside to ARR and subscription revenue expectations as we believe momentum from Q1, which saw +41% organic CC NNARR growth, continued into Q2. We believe the company is seeing continued logs traction, GTM is paying off with strong new logo ARR performance, and AI is emerging as tangible tailwind to the business. While the stock is up 39% since the Q1 print and DT has seemingly shifted from a highly debated stock to long-leaning, we still like the setup into the Q2 print and second half of Dynatrace's fiscal year given the ability for numbers to move up from here. On that, guidance was maintained coming out of a strong Q1, but management expects to update guidance post-Q2 as we believe FY consensus estimates are biased higher."

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