Dynatrace price target raised to $59 from $52 at Barclays

Barclays raised the firm’s price target on Dynatrace to $59 from $52 and keeps an Equal Weight rating on the shares. The company posted another quarter of 20% annual recurring revenue growth, but notably lowered its constant currency guidance while cautioning elongated deal closing, the analyst tells investors in a research note. The firm says the long-term thesis around building a unified observability platform remains intact.