Shares of Dynatrace Holdings LLC (DT) soared 6.87% in pre-market trading on Thursday, following a positive analyst update from RBC Capital Markets. The software intelligence company's stock received a boost after RBC raised its price target on Dynatrace to $64 from $60, while maintaining an Outperform rating.
The upgraded price target reflects growing confidence in Dynatrace's business prospects and potential for further growth. RBC's bullish stance on the company aligns with the overall market sentiment, as analysts polled by FactSet give Dynatrace an average rating of overweight with a mean price target of $63.
While RBC's optimistic view is driving the pre-market rally, it's worth noting that not all analysts share the same enthusiasm. In a separate report, Loop Capital Markets maintained a Hold rating on Dynatrace, with a more conservative price target of $55.00. This divergence in analyst opinions highlights the importance of monitoring multiple sources when evaluating stock movements and making investment decisions.