Dynatrace stock rallies on bullish outlook

Dynatrace Inc.'s stock (DT) is up 9% in premarket trades on Wednesday after the cloud software and security company beat its fourth-quarter earnings forecast and issued a fiscal 2024 profit outlook that surpassed analyst forecasts. Dynatrace said its fourth-quarter adjusted profit totaled 31 cents a share, ahead of the forecast of 22 cents a share, according to analyst estimates compiled by FactSet. Revenue of $314.5 million beat the estimate of $305.5 million. Looking ahead, Dynatrace expects fiscal first-quarter earnings of 22 cents a share, which matches the analyst estimate of 22 cents a share. It's also forecasting first-quarter revenue of $325 million to $328 million, ahead of the analyst estimate of $319.3 million. For 2024, Dynatrace expects earnings of 98 cents to $1.02 a share, ahead of the analyst estimate of 97 cents a share.

-Steve Gelsi

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05-17-23 0731ET

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