Dynatrace shares gain; Needham upgrades to 'buy'
DT•Shares rise in premarket trading
Shares of AI-powered cloud monitoring software provider Dynatrace DT.N rise 1.3% to $56.56 in premarket trading.
Needham raises rating and price target
Needham raises the stock's rating to "buy" from "hold"; PT $68.
Says the company's mounting DPS renewal cohort this year is "well-timed in conjunction with a booming Observability market; further supported by Logs and Observability for AI adoption".
European data sovereignty seen as an upside catalyst
"We believe European data sovereignty requirements serve as an additional upside catalyst, thanks in part to Dynatrace's Austrian heritage" - Needham.
Up to last day's close, shares are up 28.8% YTD.
