Dynatrace price target raised to $67 from $63 at BTIG

BTIG raised the firm’s price target on Dynatrace (DT) to $67 from $63 and keeps a Buy rating on the shares. The company posted decent Q3 results and fractionally increased its full year ARR – annual recurring revenue – guidance on a constant currency basis, though there was a good amount of complexity that needed to be explained as more customers utilize on-demand services that land in subscription revenue but not ARR, the analyst tells investors in a research note. Dynatrace also raised its full year ARR guidance to 16.2% y/y growth from 15.6% previously, the firm added.