Dynatrace, Inc DT reported better-than-expected fourth-quarter results and issued a better-than-estimated revenue guidance.
Dynatrace reported Q4 FY23 revenue grew 27% year over year to $314.48 million (CC). exceed the consensus of $304.96 million. Non-GAAP EPS of $0.31 beat consensus of $0.22.
For FY24, Dynatrace expects revenue of $1.388 billion to $1.406 billion, ahead of the consensus of $1.360 billion.
Dynatrace shares gained 0.6% on Wednesday to close at $47.07 and gained 1.4% in today’s premarket trading session.
- Needham raised the price target for Dynatrace from $52 to $56. Needham analyst Mike Cikos maintained his buy rating.
- Barclays raised the price target for Dynatrace from $41 to $48. Barclays analyst Raimo Lenschow retained the equal-weight rating
- Baird raised Dynatrace’s target price to $53 from $49. Baird analyst William Power retained the stock with an outperform.
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