Dynatrace initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Dynatrace with an Outperform rating and $60 price target. The analyst is bullish on the company’s market opportunity, product cycle, and “differentiation” from offering full stack observability. The firm says Dynatrace is a “rare high growth name” with GAAP profitability and the shares trading at 25% discount to its growth-weighted efficiency peers, which “screams attractive.”