Stifel raised the firm’s price target on Dynatrace (DT) to $64 from $58 and keeps a Buy rating on the shares. The company delivered “strong” Q2 results on the top and bottom-lines, with annual recurring revenue beating Wall Street expectations by $30M driven equally by foreign exchange tailwinds and strength in expansion bookings, the analyst tells investors in a research note. The firm added that while it was expecting some level of ARR raise, it believes business trends remain positive with accelerating tailwinds heading into 2025 and Dynatrace Platform Subscription contracting mix growing, log management momentum and maturing sales changes as customers increasingly look to consolidate on an end-to-end observability-platform.
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