Dynatrace price target raised to $49 from $40 at Baird

Baird analyst William Power raised the firm’s price target on Dynatrace to $49 from $40 and keeps an Outperform rating on the shares. The analyst said they reported stronger-than-forecast FQ3 results and raised full year guidance, with FQ4 guidance also above prior estimates and the firm remains positive on its expanding platform capabilities and combination of strong revenue growth and industry leading margins.