This is our first report on Dynatrace, a well-known software intelligence platform for dynamic multi-cloud environments. The company managed to deliver an all-around beat in a challenging setting. The strength of its enterprise customer base and the resilience of its subscription model is reflected in the Q1 performance. This offers a solid base from which the company anticipates continuing to deliver a balanced business of growth, profitability, and cash flow. Although they are still in the early stages of development, observability and application security solutions are quickly becoming crucial components of successful cloud deployments. The management believes that the current economic difficulties will make digital transformation activities even more important due to the need for increased IT resource efficiency. Dynatrace’s ability to increase efficiency while lowering costs puts them near the top of the list of strategic IT priorities. The trend toward digital transformation could support their growth for many years based on these fundamentals. We initiate coverage on Dynatrace with a ‘Hold’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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