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Dynatrace's quarterly report exceeded Wall Street's forecasts for sales and earnings. The company expects slowing growth due to longer sales cycles, which hurt share prices.
Dynatrace (DT) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Dynatrace (DT) is up 2.5% to trade at $47.48, at last check, enjoying a breath of fresh air following an early February bear gap that dragged its shares back below $50. In fact, the security has struggled to maintain any upwards momentum in 2024, off nearly 10% in this time frame, particularly suffering after hitting a ceiling at its Feb. 4, two-year high of $61.41.
Growth stocks are ideal for Roth IRA investments, so this is timely for people making contributions for the previous tax year. Dynatrace doesn't capture headlines like its competitiors, but it's still a profitable high-growth opportunity with great catalysts.
Dynatrace stock has put in a solid recovery as its business keeps growing with new AI use cases on the rise. Security and app performance monitoring will be big needs in the coming years as new AI applications are built.
Since August 2023, when I last wrote about Dynatrace DT — the Waltham, Mass.-based provider of software observability services — has experienced an 8% increase in its stock (lagging the Nasdaq's 14.5% gain).
Dynatrace, Inc. (DT) Q3 2024 Earnings Call Transcript
While the top- and bottom-line numbers for Dynatrace (DT) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Dynatrace (DT) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.25 per share a year ago.
In the most recent trading session, Dynatrace (DT) closed at $59.35, indicating a -0.8% shift from the previous trading day.