Dynatrace Gets Price Target Hikes By Analysts After Upbeat Results

Dynatrace, Inc (NYSE: DT) reported better-than-expected fourth-quarter results and issued revenue guidance above estimates.

Dynatrace reported fourth-quarter FY23 revenue growth of 27% year-on-year to $314.48 million (CC), beating the consensus of $304.96 million. Non-GAAP EPS of $0.31 beat the consensus of $0.22.

For FY24, Dynatrace expects revenue of $1.388 billion - $1.406 billion, above the consensus of $1.360 billion.

Dynatrace shares gained 0.6% to close at $47.07 on Wednesday and added 1.4% in today’s pre-market trading session.

These analysts made changes to their price targets on Dynatrace following earnings announcement.

• Needham raised the price target on Dynatrace from $52 to $56. Needham analyst Mike Cikos maintained a Buy rating.
• Barclays boosted the price target on Dynatrace from $41 to $48. Barclays analyst Raimo Lenschow maintained an Equal-Weight rating
• Baird raised Dynatrace price target from $49 to $53. Baird analyst William Power maintained the stock with an Outperform.

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