Dynatrace price target raised to $50 from $45 at Truist

Truist analyst Joel Fishbein raised the firm’s price target on Dynatrace to $50 from $45 and keeps a Buy rating on the shares. The company’s Q3 results were "strong" and its guidance provides confidence in their platform’s value proposition and ability to execute against a difficult macro backdrop, the analyst tells investors in a research note. The firm adds that net new customers and net new annualized recurring revenue are providing the most upside surprise relative to estimates for Dynatrace.