William Blair analyst Jake Roberge has maintained their bullish stance on DT stock, giving a Buy rating on February 4.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Jake Roberge has given his Buy rating due to a combination of factors observed during Dynatrace’s recent user conference and investor meeting. The conference highlighted strong momentum from partners and positive feedback from customers, particularly regarding the company’s new logging solution, Logs on Grail. Customers showed interest in this product due to its increased maturity and dissatisfaction with pricing from competitors like Splunk.
Furthermore, management outlined four long-term growth drivers, including advancements in AIOps and AI observability, market expansion into logging, adoption of Dynatrace Platform Services, and effective execution of their go-to-market strategy. The company’s focus on the developer community and the smooth progress of its go-to-market transition, particularly with the IT 500 cohort, also contributed to the positive outlook. Additionally, the better-than-expected on-demand consumption of DPS and anticipated growth in subscription revenue were seen as indicators of the company’s potential for sustained growth.
Roberge covers the Technology sector, focusing on stocks such as Paycor HCM, BlackLine, and Smartsheet. According to TipRanks, Roberge has an average return of 4.3% and a 51.75% success rate on recommended stocks.
In another report released on February 4, Wells Fargo also maintained a Buy rating on the stock with a $70.00 price target.