Loop Capital analyst Yun Kim raised the firm’s price target on Dynatrace to $40 from $35 and keeps a Hold rating on the shares after its Q3 earnings beat. The macro headwinds which caused the company to lower its ARR growth guidance for two consecutive quarters still exist, but its better-than-expected results indicate that its demand environment is stabilizing and the company is better at navigating and executing in the current environment, the analyst tells investors in a research note. Dynatrace also plans to be disciplined in its operation going forward, which is reflected in its positive margin guidance, the firm adds.
Published first on TheFly
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