Dynatrace Inc. (DT) PT Raised to $60 at Canaccord
Canaccord analyst Kingsley Crane raised the price target on Dynatrace Inc. (NYSE: DT) to $60.00 (from $46.00) while maintaining a Buy rating.
The analyst commented: "We'd be remiss not to mention the announcement of CFO Jim Benson's planned retirement by fiscal year-end (we'll still have him for a while). Credit where credit is due. Benson's four-year tenure spans the DPS transition, the pivot to cleaner ARR-centric disclosure, and a step-change in capital return ($275M repurchased this quarter alone), all while holding the growth-plus-margin line that's made DT a port in the software storm. We see limited risk associated with his eventual departure. Reiterate Buy. PT to $60, reflecting ~6x CY27E sales and 25x CY27E FCF."