Dynatrace DT is benefiting from solid demand for its unified solutions and security platform, driven by enterprises’ focus on digital transformation.
Shares of Dynatrace have returned 26.2%, outperforming the Zacks Computers IT-Services industry that has gained 18.8% on a year-to-date basis. However, it has underperformed the Zacks Computer & Technology sector’s return of 36.3%.
Dynatrace recently introduced a series of innovations tailored for users of the Dynatrace platform on Microsoft’s MSFT cloud platform Azure.
These innovations include the Dynatrace Grail data lakehouse, the Dynatrace AutomationEngine and the Dynatrace AppEngine. Dynatrace Grail data lakehouse and Dynatrace AutomationEngine are powered by the Davis artificial Intelligence (AI). The latest innovations are based on the expanded multi-year partnership with Microsoft.
Dynatrace Leverages on Cloud Optimization to Boost Prospects
Dynatrace is leading the charge in digital business transformation, with organizations leveraging technologies like cloud optimization and generative AI. According to a Gartner report, 75% of organizations will adopt a digital transformation model predicated on the cloud as the fundamental underlying platform by 2026.
Dynatrace, Inc. Price and Consensus
Dynatrace, Inc. price-consensus-chart | Dynatrace, Inc. Quote
Dynatrace is making significant strides in observability and security by expanding its Davis AI engine. This expansion marks an important development in the industry, introducing hypermodal artificial intelligence (AI) that combines predictive and causal AI insights with generative AI capabilities.
Additionally, Dynatrace has introduced Security Analytics, powered by Davis AI and AutomationEngine, to bolster cybersecurity defenses in hybrid and multi-cloud environments.
Dynatrace has also strengthened its collaboration with Red Hat by integrating with Red Hat Event-Driven Ansible, enabling automation of DevSecOps use cases like problem resolution, security remediation, application healing, and incident response.
Dynatrace has actively collaborated with hyperscalers like Amazon’s AMZN cloud arm Amazon Web Services (AWS) and Alphabet’s GOOGL Google Cloud to create secure enterprise-ready offerings that bring the power of unified observability and security platforms on these cloud environments.
Dynatrace achieved the AWS Cloud Operations Competency in the monitoring and observability category. This demonstrates its expertise in helping customers build a strong and scalable foundation for their end-to-end cloud operations.
Dynatrace is a SaaS solution on Google Cloud, providing customers with its cloud-native and web-scale architecture advantages. It also offers automatic full-stack monitoring of services running in the Google Cloud.
For the second quarter of fiscal 2024, this Zacks Rank #3 (Hold) company expects total revenues between $343 million and $346 million. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for the current quarter revenues is pegged at $344.48 million, indicating year-over-year growth of 23.32%.
The consensus mark for earnings has remained unchanged at 27 cents per share in the past 30 days, indicating a year-over-year growth of 22.73%.
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