Dynatrace price target raised to $69 from $65 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Dynatrace (DT) to $69 from $65 and keeps an Outperform rating on the shares. The company delivered solid results, outperforming consensus estimates while raising guidance for all metrics in constant currency, the analyst tells investors in a research note. While the firm is not seeing a dramatic shift in the spending environment, the management continued to see trends around digital transformation and consolidation of observability tools that create a stable demand environment, the firm added.