Dynatrace price target lowered to $60 from $70 at Truist

Truist lowered the firm’s price target on Dynatrace to $60 from $70 but keeps a Buy rating on the shares after its Q4 results. The company produced upside across all metrics in the quarter, along with a record quarter for 7-figure Annual Contract Value, or ACV, deals, but introduced FY25 annual recurring revenue, or ARR, and revenue guidance that was below consensus expectations, the analyst tells investors in a research note. In the near term, Dynatrace management cited a continuation of the demand trends that are elongating sales cycles, but if bookings momentum persists through the go-to-market changes, there could be upside to the company’s FY25 ARR guidance, the firm added.