Dynatrace price target raised to $57 from $53 at JPMorgan

JPMorgan analyst Pinjalim Bora raised the firm’s price target on Dynatrace to $57 from $53 and keeps an Overweight rating on the shares. The analyst is “leaning positive” going into Dynatrace’s fiscal Q1 print as the firm sees the setup for numbers as likely achievable, especially with respect to annual recurring revenue. Based on recent conversations with a number of customers and partners in the ecosystem, JPMorgan’s conviction has been rising that Dynatrace is starting to distinguish itself in the market from its peers and is beginning to successfully elevate customer conversations from a siloed monitoring use case toward a full-stack observability platform.