Fly News Breaks for March 4, 2020
Mar 4, 2020 | 07:25 EDT
Raymond James analyst Michael Turits initiated coverage of Dynatrace with an Outperform rating and $38 price target. In a research note to investors, Turits says he sees monitoring demand being driven by a "next-gen" upgrade cycle around the need to monitor cloud workloads and new IT architectures, a preference for SaaS solutions, and a shift to "multi-silo" monitoring of infrastructure, applications, logs, and networks. With both high top-line growth in the mid-20s and 24% operating margins in 2020E, Turits sees valuation as attractive even at a premium to the group at 14.1x EV/F2021E revenues and see 18% upside to his $38 target.
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