Dynatrace drops as it cuts FY24 ARR growth forecast

Dynatrace,

08/02/2024 13:40

** Shares of software intelligence company Dynatrace  DT.N 
tumble 10.4% to $54.36 premarket
    ** Co cuts FY24 annual recurring revenue (ARR) growth
forecast in constant currency to 18%-19%, down from previous
forecast of 19%-20%
    ** Co forecasts Q4 revenue between $372 mln and $377 mln;
analysts' estimate $373.50 mln - LSEG data
    ** Co sees Q4 adj. EPS between $0.26-$0.28; above market
view of $0.25
    ** DT posts Q3 revenue of $365.10 mln vs average estimate of
$358.1 mln
    ** Quarterly profit of $0.32/shr, above Wall Street view of
$0.28/shr
    ** 22 of 29 brokerages rate the stock "buy" or higher, 7
"hold"; their median PT is $65
    ** In 2023, DT stock advanced ~43%

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))