Dynatrace price target lowered to $45 from $50 at Loop Capital

Loop Capital lowered the firm’s price target on Dynatrace to $45 from $50 and keeps a Hold rating on the shares. The firm’s extensive check into the company’s large global system integrator, or GSI, channel, which has become increasingly strategic as its deal size continues to increase, indicated that there are currently over 100 active engagements that include both ongoing deployments and pipeline activity, the analyst tells investors in a research note. Loop is becoming increasingly comfortable that the company is successfully increasing traction with large GSIs who are instrumental in helping close large deals, especially with large traditional global enterprises and government agencies, the firm states, though its reduced pricetarget reflects fine-tuning for seasonality and FX headwinds.