Dynatrace price target lowered to $54 from $55 at BMO Capital

BMO Capital analyst Keith Bachman lowered the firm’s price target on Dynatrace to $54 from $55 but keeps an Outperform rating on the shares. The company’s Q4 results were mostly better than expected, with solid annual recurring revenue, or ARR, growth and healthy margins, though its NRR, or Net Retention Rate, was below expectations, the analyst tells investors in a research note. Investors were still left with the questions surrounding ARR deceleration, BMO states, however the firm “remains bullish” on the monitoring market and believes that Dynatrace offers a comprehensive Observability platform with scalable and enterprise-grade technology.