Dynatrace elevated to ‘Best-of-Breed Bison’ at DA Davidson

DA Davidson elevated Dynatrace to the firm’s ‘Best-of-Breed Bison’ list while maintaining a Buy rating and $65 price target. The current $35B observability market will continue its double digit growth CAGR moving forward as the firm estimates it is at most 30% penetrated currently, the analyst tells investors in a research note. Dynatrace’s highly scalable solution with its built-in automation minimizes the difficulty of managing complex, hybrid or multi-cloud IT environments, making it a top choice for enterprises that prefer to operate multi-cloud to avoid vendor lock-in, the firm added. Dynatrace’s Davis AI engine “provides outstanding and differentiated insights” into the performance of applications and infrastructure, DA Davidson noted.