Dynatrace price target lowered to $51 from $63 at Stifel

Stifel lowered the firm’s price target on Dynatrace (DT) to $51 from $63 and keeps a Buy rating on the shares. The stock is up roughly 8% intraday, as record new logo annual recurring revenue, steady expansion ARR, and consistent close rates compared to the first half drove a strong Q3 beat, the analyst tells investors in a research note. Looking forward, given the strong underlying usage trends, the firm expects ARR/subscription growth rates to potentially trend higher beginning in FY27, enabling the company to provide a healthy and duly conservative initial FY27 guide.