Dynatrace Stock Plunges Despite Upbeat Q1 Performance, Strong Outlook: By The Numbers
Portfolio Pulse from Anusuya Lahiri
Dynatrace, Inc (NYSE:DT) reported a 25% YoY increase in Q1 FY24 revenue to $332.9 million, beating the consensus of $326.9 million. The company's non-GAAP operating margin expanded by 500 basis points to 28% and non-GAAP EPS of $0.27 beat the consensus of $0.22. Dynatrace also raised its FY24 revenue outlook to $1.400 billion - $1.415 billion. Despite the positive results, DT shares traded lower by 9.77% at $45.80.
August 04, 2023 | 11:20 am
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NEGATIVE IMPACT
Despite Dynatrace's strong Q1 FY24 performance and raised FY24 revenue outlook, its stock price fell by 9.77%.
Dynatrace reported strong Q1 FY24 results and raised its FY24 revenue outlook, which are positive indicators for the company's performance. However, despite these positive results, the company's stock price fell by 9.77%. This suggests that the market may have had higher expectations for the company's performance, or there may be other factors at play affecting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100