Long Position on DT @ $43.50 on 5/8/2023 (Momentum)

Dynatrace, Inc. (DT) provides a software intelligence platform for dynamic multi-cloud environments. Stockwinners

It operates Dynatrace, a software intelligence platform, which provides application and microservices monitoring, runtime application security, infrastructure monitoring, digital experience monitoring, business analytics, and cloud automation.

Its platform allows its customers to modernize and automate IT operations, develop and release software, and enhance user experiences.

The company also offers implementation, consulting, and training services. 

On February 1st, DT reported 3rd Quarter December 2022 earnings of $0.15 per share on revenue of $297.5 million. The consensus earnings estimate was $0.11 per share on revenue of $285.2 million. Revenue grew 23.5% on a year-over-year basis.

Guided Higher:  The company said it expects fourth quarter non-GAAP earnings of $0.22 to $0.23 per share on revenue of $304.0 million to $307.0 million. The previous consensus earnings estimate was $0.21 per share on revenue of $292.32 million for the quarter ending March 31, 2023.

Shares have formed a bullish "cup and handle" following its latest report. The next earnings report is scheduled for May 17th.

Entry Point: $43.50

Stop Loss: $41.00

Trading Range: $29.41 - $48.00

Target Price: $47.60

Position closed on 5/19/2023 at price of $49.00 with a 12.64% gain in 11 days.

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