Dynatrace (DT)
Market Price (5/19/2026): $39.84 | Market Cap: $12.0 BilSector: Information Technology | Industry: Application Software
Dynatrace (DT)
Market Price (5/19/2026): $39.84Market Cap: $12.0 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and Cybersecurity. Themes include Software as a Service (SaaS), Show more. | Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -94% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.4% Key risksDT key risks include [1] potential deceleration of revenue growth and booking unpredictability due to intense competition, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 24% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and Cybersecurity. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -55%, 3Y Excs Rtn is -94% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 15% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.4% |
| Key risksDT key risks include [1] potential deceleration of revenue growth and booking unpredictability due to intense competition, Show more. |
Qualitative Assessment
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Dynatrace (DT) stock has gained about 5% since 1/31/2026 because of the following key factors:
1. Robust Fiscal Year 2026 Financial Performance and Shareholder Returns.
Dynatrace concluded its fiscal year 2026 (ended March 31, 2026) with strong results, reporting Annual Recurring Revenue (ARR) exceeding $2 billion, an 18% increase year-over-year (16% on a constant currency basis). Total revenue for the full year grew 19% to $2.02 billion, and subscription revenue also rose 19% to $1.93 billion. For the fourth quarter of fiscal 2026, the company surpassed EPS estimates, reporting $0.41 per diluted share against an estimated $0.39, although it slightly missed revenue forecasts. Additionally, Dynatrace demonstrated a commitment to shareholder value by repurchasing $224 million of its common stock during Q4, including $151 million under a new $1 billion share repurchase program announced in February 2026.
2. Activist Investor Interest Catalyzing Stock Movement.
In late April 2026, the disclosure of a significant stake by activist investor Starboard Value spurred an 11.5% increase in Dynatrace's stock price. Starboard Value publicly urged the company to enhance shareholder value through initiatives such as margin expansion and accelerated share repurchases. This activist engagement generated investor optimism regarding potential operational efficiencies and increased returns, providing a notable catalyst for positive stock movement within the specified period.
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1. Robust Fiscal Year 2026 Financial Performance and Shareholder Returns.
Dynatrace concluded its fiscal year 2026 (ended March 31, 2026) with strong results, reporting Annual Recurring Revenue (ARR) exceeding $2 billion, an 18% increase year-over-year (16% on a constant currency basis). Total revenue for the full year grew 19% to $2.02 billion, and subscription revenue also rose 19% to $1.93 billion. For the fourth quarter of fiscal 2026, the company surpassed EPS estimates, reporting $0.41 per diluted share against an estimated $0.39, although it slightly missed revenue forecasts. Additionally, Dynatrace demonstrated a commitment to shareholder value by repurchasing $224 million of its common stock during Q4, including $151 million under a new $1 billion share repurchase program announced in February 2026.
2. Activist Investor Interest Catalyzing Stock Movement.
In late April 2026, the disclosure of a significant stake by activist investor Starboard Value spurred an 11.5% increase in Dynatrace's stock price. Starboard Value publicly urged the company to enhance shareholder value through initiatives such as margin expansion and accelerated share repurchases. This activist engagement generated investor optimism regarding potential operational efficiencies and increased returns, providing a notable catalyst for positive stock movement within the specified period.
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Stock Movement Drivers
Fundamental Drivers
The 4.6% change in DT stock from 1/31/2026 to 5/18/2026 was primarily driven by a 186.6% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.09 | 39.85 | 4.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,853 | 1,932 | 4.3% |
| Net Income Margin (%) | 27.3% | 9.6% | -65.0% |
| P/E Multiple | 22.7 | 65.0 | 186.6% |
| Shares Outstanding (Mil) | 302 | 301 | 0.1% |
| Cumulative Contribution | 4.6% |
Market Drivers
1/31/2026 to 5/18/2026| Return | Correlation | |
|---|---|---|
| DT | 4.6% | |
| Market (SPY) | 7.0% | 9.3% |
| Sector (XLK) | 21.3% | 19.2% |
Fundamental Drivers
The -21.2% change in DT stock from 10/31/2025 to 5/18/2026 was primarily driven by a -65.6% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 50.57 | 39.85 | -21.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,777 | 1,932 | 8.7% |
| Net Income Margin (%) | 27.7% | 9.6% | -65.6% |
| P/E Multiple | 30.8 | 65.0 | 111.2% |
| Shares Outstanding (Mil) | 300 | 301 | -0.3% |
| Cumulative Contribution | -21.2% |
Market Drivers
10/31/2025 to 5/18/2026| Return | Correlation | |
|---|---|---|
| DT | -21.2% | |
| Market (SPY) | 8.9% | 14.5% |
| Sector (XLK) | 16.3% | 23.2% |
Fundamental Drivers
The -15.2% change in DT stock from 4/30/2025 to 5/18/2026 was primarily driven by a -67.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 46.97 | 39.85 | -15.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,634 | 1,932 | 18.2% |
| Net Income Margin (%) | 29.5% | 9.6% | -67.6% |
| P/E Multiple | 29.1 | 65.0 | 123.6% |
| Shares Outstanding (Mil) | 299 | 301 | -0.8% |
| Cumulative Contribution | -15.2% |
Market Drivers
4/30/2025 to 5/18/2026| Return | Correlation | |
|---|---|---|
| DT | -15.2% | |
| Market (SPY) | 34.7% | 22.3% |
| Sector (XLK) | 67.0% | 26.1% |
Fundamental Drivers
The -5.7% change in DT stock from 4/30/2023 to 5/18/2026 was primarily driven by a -84.7% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5182026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.28 | 39.85 | -5.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,097 | 1,932 | 76.2% |
| Net Income Margin (%) | 2.6% | 9.6% | 266.4% |
| P/E Multiple | 425.8 | 65.0 | -84.7% |
| Shares Outstanding (Mil) | 288 | 301 | -4.4% |
| Cumulative Contribution | -5.7% |
Market Drivers
4/30/2023 to 5/18/2026| Return | Correlation | |
|---|---|---|
| DT | -5.7% | |
| Market (SPY) | 84.5% | 41.9% |
| Sector (XLK) | 136.0% | 40.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DT Return | 39% | -37% | 43% | -1% | -20% | -11% | -11% |
| Peers Return | 37% | -39% | 76% | 37% | 6% | 12% | 141% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| DT Win Rate | 58% | 42% | 58% | 50% | 33% | 40% | |
| Peers Win Rate | 65% | 33% | 67% | 67% | 53% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| DT Max Drawdown | -28% | -50% | -21% | -33% | -34% | -26% | |
| Peers Max Drawdown | -26% | -48% | -19% | -26% | -36% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DDOG, CSCO, NOW, ESTC, AVGO. See DT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/18/2026 (YTD)
How Low Can It Go
| Event | DT | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -18.3% | -9.5% |
| % Gain to Breakeven | 22.4% | 10.5% |
| Time to Breakeven | 35 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -12.3% | -6.7% |
| % Gain to Breakeven | 14.1% | 7.1% |
| Time to Breakeven | 43 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -49.2% | -24.5% |
| % Gain to Breakeven | 96.9% | 32.4% |
| Time to Breakeven | 628 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.8% | -33.7% |
| % Gain to Breakeven | 81.3% | 50.9% |
| Time to Breakeven | 64 days | 140 days |
In The Past
Dynatrace's stock fell -5.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 6.1% gain to breakeven.
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| Event | DT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -49.2% | -24.5% |
| % Gain to Breakeven | 96.9% | 32.4% |
| Time to Breakeven | 628 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.8% | -33.7% |
| % Gain to Breakeven | 81.3% | 50.9% |
| Time to Breakeven | 64 days | 140 days |
In The Past
Dynatrace's stock fell -5.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 6.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Dynatrace (DT)
Dynatrace, Inc. provides a software intelligence platform for dynamic multi-cloud environments. It operates Dynatrace, a software intelligence platform for running and optimizing the applications and services. The company's products include AppMon that works in various application environments, such as Java, .NET, PHP, Node.js, GoLang, SQL, NoSQL, CICS, IMS, AWS Lambda, Google Cloud Functions, and Microsoft Azure Functions; and Classic Real User Monitoring. 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. Dynatrace, Inc. markets its products through a combination of direct sales team and a network of partners, including resellers, system integrators, and managed service providers. It serves customers in various industries comprising banking, insurance, retail, manufacturing, travel, and software. The company operates in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. Dynatrace, Inc. was founded in 2005 and is headquartered in Waltham, Massachusetts.
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Here are 1-3 brief analogies for Dynatrace (DT):
- Datadog for enterprise software intelligence.
- New Relic for AI-powered multi-cloud performance.
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- Dynatrace Platform: A comprehensive software intelligence platform for running and optimizing applications and services in dynamic multi-cloud environments.
- AppMon: A product for monitoring applications across a wide range of environments, from traditional Java and .NET to modern serverless functions.
- Classic Real User Monitoring: A product focused on monitoring and understanding the real-time experience of end-users interacting with applications.
- Implementation Services: Services that assist customers with the setup and integration of the Dynatrace platform.
- Consulting Services: Expert guidance provided to help customers optimize their IT operations and software delivery using Dynatrace.
- Training Services: Educational programs designed to teach customers how to effectively utilize the Dynatrace platform.
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Rick McConnell Chief Executive Officer Rick McConnell has a distinguished 30-year career as a technology executive, known for scaling multibillion-dollar companies. Prior to becoming CEO of Dynatrace in December 2021, he served as President and General Manager of Akamai Technologies' Security Technology Group, and previously as President and General Manager of Akamai's Web Division, where he helped scale the company's revenue past $3 billion. He was also part of the early leadership team at Cisco Systems, contributing to their multibillion-dollar Communications and Collaboration business. Notably, McConnell was the CEO of Latitude Communications from 1998 to 2004, which was subsequently acquired by Cisco Systems in 2004. He also served as CFO of Storm Technology from 1992 to 1998. He holds an MBA and a B.A. in Quantitative Economics from Stanford University. Jim Benson Chief Financial Officer Jim Benson oversees Dynatrace's financial strategy and operations, ensuring the company's strong financial health and growth. His professional background includes significant roles at Akamai Technologies and Hewlett Packard Enterprise, where he developed his expertise in finance and corporate leadership. Benson has also contributed his financial acumen by serving on the boards of Xplor, Grange Insurance, and Temenos. Bernd Greifeneder Chief Technology Officer and Founder Bernd Greifeneder co-founded Dynatrace in 2005, making it his third successful venture. He is responsible for Dynatrace's global product vision and platform, overseeing technology, delivery, and user experience. Greifeneder is a named inventor on 20 Dynatrace patents, including PurePath®, Smartscape®, and DEM technologies. Earlier in his career, he founded a company in the load-testing space that was later acquired. As a founder of Dynatrace, he was involved when the company was acquired by private equity firm Thoma Bravo in 2014. He advises startup companies, speaks at entrepreneurial events, and supports academic technology research. Dan Zugelder Chief Revenue Officer Dan Zugelder joined Dynatrace as Chief Revenue Officer in July 2023, responsible for the company's go-to-market strategies and revenue generation activities. He brings over 30 years of leadership experience in sales, client relationship development, and business management. Prior to Dynatrace, Zugelder held several leadership positions at VMware, including Senior Vice President, Global Accounts, and later, Senior Vice President and General Manager, Americas. He also spent 18 years at Dell EMC in various sales management roles, and 10 years at ADP in sales and sales leadership. Laura Heisman Chief Marketing Officer Laura Heisman is responsible for Dynatrace's global marketing organization, leveraging her more than three decades of marketing and communications expertise to create and optimize the customer experience. Before joining Dynatrace, she held senior leadership roles at prominent technology brands such as VMware, GitHub, and Citrix. Heisman holds a B.A. in Communications from San Diego State University and is an advocate for women in technology, serving as a mentor and executive sponsor for women's employee resource groups.AI Analysis | Feedback
Key Risks to Dynatrace (DT):
- Intense Competition in the Software Intelligence and Observability Market: Dynatrace operates in a highly competitive market for software intelligence, application performance monitoring (APM), and observability solutions. The company faces significant competition from well-established vendors and emerging players offering similar platforms for dynamic multi-cloud environments. This intense competition could lead to pricing pressures, the need for continuous and costly innovation, or a loss of market share if competitors offer more compelling features or pricing models.
- Rapid Technological Evolution of Multi-Cloud Environments: Dynatrace's core business revolves around providing a software intelligence platform for dynamic multi-cloud environments. The rapid and constant evolution of cloud technologies, architectures (e.g., serverless, containers), and application stacks necessitates continuous and substantial research and development investment. Failure to quickly adapt its platform to new technologies, integrate with emerging cloud services, or keep pace with customer demands for support across diverse and evolving environments could render its solutions less effective or obsolete, impacting its competitiveness and revenue.
- Data Security and Privacy Risks: As a platform that monitors and collects data from various applications, services, and user experiences across customer environments, Dynatrace handles vast amounts of potentially sensitive operational data. The company faces inherent risks related to data breaches, cyberattacks, or other security incidents that could compromise customer data. Furthermore, evolving global data privacy regulations (such as GDPR or CCPA) require strict compliance, and any failure to adhere to these regulations could result in significant fines, reputational damage, and a loss of customer trust.
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The increasing adoption and maturity of OpenTelemetry as a vendor-agnostic standard for instrumenting applications and collecting telemetry data (metrics, logs, traces) represents a clear emerging threat. This trend has the potential to commoditize the data collection layer of observability platforms, reducing reliance on proprietary agents and data formats that have historically been a competitive advantage for companies like Dynatrace. As a robust OpenTelemetry ecosystem develops, it could lower barriers for new entrants, enhance customer flexibility to switch vendors, or increase the viability and adoption of open-source observability backends, thereby challenging the market position and differentiation of established commercial platforms.
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Dynatrace (DT) operates within a substantial global addressable market for its AI-powered observability and security platform. The company most recently identified its total addressable market (TAM) to be $65 billion.
This $65 billion global market is further segmented:
- Observability: $51 billion
- Security: $14 billion
Earlier estimates from Dynatrace indicated a total addressable market of $18 billion in July 2019, targeting 15,000 global enterprise accounts. By May 2022 and April 2023, the company communicated its market opportunity at $50 billion, driven by its offerings extending beyond Application Performance Management (APM) to encompass the broader observability sector. The application process monitoring and observability sector itself was expected to grow at a Compound Annual Growth Rate (CAGR) of 11% through 2027.
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Dynatrace (DT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Expansion of AI-Powered Observability and New Product Innovations: Dynatrace's AI-powered observability platform is increasingly essential for companies deploying AI workloads and managing complex multi-cloud environments. The introduction of "Dynatrace Intelligence," which fuses deterministic AI with agentic AI, is anticipated to be a significant tailwind for the business, with observability becoming critical for nearly all agentic AI workloads.
- Significant Growth in Log Management Capabilities: The company's log management product has emerged as a strong and rapidly growing revenue driver. Annualized logs consumption has surpassed $100 million and is projected to exceed $250 million by the end of fiscal 2027, indicating continued momentum in this segment.
- Effective Go-to-Market Strategy Focusing on Enterprise Customers and Strategic Partnerships: Dynatrace has implemented strategic go-to-market changes, including a focus on Global 500 accounts and end-to-end observability sales plays, which are consistently driving execution. The company is also benefiting from improving deal quality and larger enterprise deals, alongside deepening strategic alignment with hyperscalers like AWS and Google Cloud.
- Increasing Adoption and Expansion through the Dynatrace Platform Services (DPS) Model: The Dynatrace Platform Subscription (DPS) model is proving effective in driving adoption and upsell efficiency. This model now accounts for over 65% of Annual Recurring Revenue (ARR) and contributes to robust customer retention and the ability to expand revenue seamlessly.
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Share Repurchases
- Dynatrace authorized a new $1 billion share repurchase program in February 2026.
- The company substantially completed a prior $500 million share repurchase program by February 2026, having bought back approximately $495 million of stock (10.6 million shares).
- In fiscal year 2025, Dynatrace spent approximately $173 million on share repurchases.
Share Issuance
- In November 2023, certain selling stockholders of Dynatrace priced an underwritten public offering of 10,000,000 shares of common stock, with an option for the underwriter to purchase up to an additional 1,500,000 shares.
- Dynatrace's shares outstanding increased by 1.44% from 2024 to 2025 and 2.63% from 2023 to 2024.
Outbound Investments
- Dynatrace acquired DevCycle, a feature management and experimentation platform, in January 2026.
- In March 2025, Dynatrace acquired Metis, an AI-driven database observability platform.
- Dynatrace also made acquisitions of Rookout (developer-first observability) in 2023 and SpectX (high-speed parsing and analytics) in 2021.
Capital Expenditures
- Capital expenditures remained modest at $26.11 million in fiscal year 2025, reflecting an asset-light software delivery model.
- Capital expenditures for fiscal year 2024 were $26.46 million.
- In the last 12 months, capital expenditures totaled -$32.78 million (negative indicating cash outflow).
Latest Trefis Analyses
Trade Ideas
Select ideas related to DT.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | PLTR | Palantir Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 04102026 | ADSK | Autodesk | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.5% | 8.5% | 0.0% |
| 04102026 | BSY | Bentley Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.2% | 4.2% | 0.0% |
| 04102026 | ENPH | Enphase Energy | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.7% | 5.7% | 0.0% |
| 04102026 | BL | BlackLine | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 3.2% | 3.2% | -3.0% |
| 01162026 | DT | Dynatrace | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -9.2% | -9.2% | -18.9% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 111.15 |
| Mkt Cap | 90.4 |
| Rev LTM | 8,816 |
| Op Inc LTM | 1,063 |
| FCF LTM | 2,792 |
| FCF 3Y Avg | 2,310 |
| CFO LTM | 3,275 |
| CFO 3Y Avg | 2,776 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.0% |
| Rev Chg 3Y Avg | 21.6% |
| Rev Chg Q | 20.1% |
| QoQ Delta Rev Chg LTM | 4.7% |
| Op Inc Chg LTM | 38.8% |
| Op Inc Chg 3Y Avg | 32.7% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 11.4% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 28.1% |
| CFO/Rev 3Y Avg | 29.1% |
| FCF/Rev LTM | 25.0% |
| FCF/Rev 3Y Avg | 26.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 90.4 |
| P/S | 7.8 |
| P/Op Inc | 41.1 |
| P/EBIT | 58.8 |
| P/E | 63.0 |
| P/CFO | 29.7 |
| Total Yield | 1.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.6% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.6% |
| 3M Rtn | 18.4% |
| 6M Rtn | 2.1% |
| 12M Rtn | 26.1% |
| 3Y Rtn | 64.0% |
| 1M Excs Rtn | 8.8% |
| 3M Excs Rtn | 9.6% |
| 6M Excs Rtn | -11.1% |
| 12M Excs Rtn | 1.6% |
| 3Y Excs Rtn | -1.6% |
Price Behavior
Price Behavior
| Market Price | $39.85 | |
| Market Cap ($ Bil) | 12.0 | |
| First Trading Date | 08/01/2019 | |
| Distance from 52W High | -29.6% | |
| 50 Days | 200 Days | |
| DMA Price | $37.13 | $42.90 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 7.3% | -7.1% |
| 3M | 1YR | |
| Volatility | 51.2% | 38.1% |
| Downside Capture | -0.89 | 114.16 |
| Upside Capture | 24.82 | 47.65 |
| Correlation (SPY) | 1.3% | 20.3% |
DT Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.31 | 0.15 | 0.58 | 0.64 | 0.77 | 0.96 |
| Up Beta | -0.34 | -0.41 | -0.38 | 0.05 | 0.62 | 0.84 |
| Down Beta | -5.79 | -1.13 | -0.22 | 0.39 | 0.47 | 1.15 |
| Up Capture | 36% | 58% | 82% | 44% | 51% | 56% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 10 | 23 | 33 | 62 | 123 | 386 |
| Down Capture | 683% | 86% | 150% | 132% | 124% | 103% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 12 | 20 | 31 | 63 | 126 | 361 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DT | |
|---|---|---|---|---|
| DT | -27.6% | 37.9% | -0.77 | - |
| Sector ETF (XLK) | 49.8% | 20.5% | 1.86 | 24.8% |
| Equity (SPY) | 26.7% | 12.1% | 1.66 | 21.1% |
| Gold (GLD) | 40.7% | 26.8% | 1.25 | -16.3% |
| Commodities (DBC) | 47.8% | 18.5% | 1.97 | -1.2% |
| Real Estate (VNQ) | 10.8% | 13.4% | 0.52 | 8.4% |
| Bitcoin (BTCUSD) | -23.9% | 41.9% | -0.54 | 18.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DT | |
|---|---|---|---|---|
| DT | -3.3% | 40.7% | 0.04 | - |
| Sector ETF (XLK) | 21.8% | 24.8% | 0.78 | 52.3% |
| Equity (SPY) | 13.8% | 17.1% | 0.64 | 52.1% |
| Gold (GLD) | 19.5% | 17.9% | 0.88 | -0.5% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 11.0% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 35.8% |
| Bitcoin (BTCUSD) | 6.9% | 55.9% | 0.34 | 26.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DT | |
|---|---|---|---|---|
| DT | 4.9% | 46.5% | 0.32 | - |
| Sector ETF (XLK) | 24.9% | 24.4% | 0.92 | 54.3% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 51.9% |
| Gold (GLD) | 13.2% | 15.9% | 0.69 | 5.4% |
| Commodities (DBC) | 8.6% | 17.9% | 0.39 | 17.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 37.9% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 26.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | -11.4% | ||
| 2/9/2026 | 7.3% | 10.4% | 12.0% |
| 11/5/2025 | -4.5% | -5.7% | -10.4% |
| 8/6/2025 | 0.0% | -7.5% | -1.5% |
| 5/14/2025 | 5.9% | 5.4% | 6.9% |
| 1/30/2025 | 0.7% | 5.4% | -0.2% |
| 11/7/2024 | -3.8% | -5.0% | 3.2% |
| 8/7/2024 | 14.7% | 17.1% | 21.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 16 | 15 |
| # Negative | 12 | 8 | 9 |
| Median Positive | 2.9% | 5.7% | 11.8% |
| Median Negative | -7.0% | -10.3% | -10.4% |
| Max Positive | 15.9% | 25.3% | 23.5% |
| Max Negative | -18.0% | -17.7% | -23.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/22/2025 | 10-K |
| 12/31/2024 | 01/30/2025 | 10-Q |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/23/2024 | 10-K |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/25/2023 | 10-K |
| 12/31/2022 | 02/01/2023 | 10-Q |
| 09/30/2022 | 11/02/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/26/2022 | 10-K |
Recent Forward Guidance [BETA]
Latest: Q4 2026 Earnings Reported 5/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Revenue | 547.00 Mil | 549.00 Mil | 551.00 Mil | 5.5% | Higher New | Actual: 520.50 Mil for Q4 2026 | |
| Q1 2027 Subscription Revenue | 523.00 Mil | 525.00 Mil | 527.00 Mil | 6.0% | Higher New | Actual: 495.50 Mil for Q4 2026 | |
| Q1 2027 Operating Income | 150.00 Mil | 152.00 Mil | 154.00 Mil | 12.2% | Higher New | Actual: 135.50 Mil for Q4 2026 | |
| Q1 2027 Net Income | 130.00 Mil | 132.00 Mil | 134.00 Mil | 12.3% | Higher New | Actual: 117.50 Mil for Q4 2026 | |
| Q1 2027 EPS | 0.44 | 0.45 | 0.45 | 15.6% | Higher New | Actual: 0.39 for Q4 2026 | |
| 2027 ARR | 2.38 Bil | 2.39 Bil | 2.40 Bil | 16.3% | Higher New | Actual: 2.06 Bil for 2026 | |
| 2027 Revenue | 2.32 Bil | 2.33 Bil | 2.33 Bil | 15.9% | Higher New | Actual: 2.01 Bil for 2026 | |
| 2027 Subscription Revenue | 2.22 Bil | 2.23 Bil | 2.23 Bil | 16.0% | Higher New | Actual: 1.92 Bil for 2026 | |
| 2027 Operating Income | 682.00 Mil | 686.00 Mil | 690.00 Mil | 17.4% | Higher New | Actual: 584.50 Mil for 2026 | |
| 2027 Net Income | 584.00 Mil | 589.00 Mil | 594.00 Mil | 15.4% | Higher New | Actual: 510.50 Mil for 2026 | |
| 2027 EPS | 1.93 | 1.94 | 1.95 | 15.5% | Higher New | Actual: 1.68 for 2026 | |
| 2027 Free Cash Flow | 613.00 Mil | 616.50 Mil | 620.00 Mil | 18.0% | Higher New | Actual: 522.50 Mil for 2026 | |
Prior: Q3 2026 Earnings Reported 2/9/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Total revenue | 518.00 Mil | 520.50 Mil | 523.00 Mil | 3.0% | Higher New | Actual: 505.50 Mil for Q3 2026 | |
| Q4 2026 Subscription revenue | 493.00 Mil | 495.50 Mil | 498.00 Mil | 2.5% | Higher New | Actual: 483.50 Mil for Q3 2026 | |
| Q4 2026 Non-GAAP income from operations | 133.00 Mil | 135.50 Mil | 138.00 Mil | -6.9% | Lower New | Actual: 145.50 Mil for Q3 2026 | |
| Q4 2026 Non-GAAP net income | 115.00 Mil | 117.50 Mil | 120.00 Mil | -6.4% | Lower New | Actual: 125.50 Mil for Q3 2026 | |
| Q4 2026 Non-GAAP net income per diluted share | 0.38 | 0.39 | 0.39 | ||||
| 2026 ARR | 2.05 Bil | 2.06 Bil | 2.06 Bil | 2.0% | Raised | Guidance: 2.02 Bil for 2026 | |
| 2026 Total revenue | 2.00 Bil | 2.01 Bil | 2.01 Bil | 0.9% | Raised | Guidance: 1.99 Bil for 2026 | |
| 2026 Subscription revenue | 1.92 Bil | 1.92 Bil | 1.92 Bil | 0.9% | Raised | Guidance: 1.90 Bil for 2026 | |
| 2026 Non-GAAP income from operations | 582.00 Mil | 584.50 Mil | 587.00 Mil | 1.5% | Raised | Guidance: 576.00 Mil for 2026 | |
| 2026 Non-GAAP net income | 508.00 Mil | 510.50 Mil | 513.00 Mil | 1.8% | Raised | Guidance: 501.50 Mil for 2026 | |
| 2026 Non-GAAP net income per diluted share | 1.67 | 1.68 | 1.69 | ||||
| 2026 Free cash flow | 520.00 Mil | 522.50 Mil | 525.00 Mil | 2.5% | Raised | Guidance: 510.00 Mil for 2026 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Greifeneder, Bernd | EVP, Chief Technology Officer | Spouse | Sell | 3092026 | 39.21 | 85 | 3,333 | 55,012 | Form |
| 2 | McMahon, Stephen A | EVP, Chief Customer Officer | Direct | Buy | 3042026 | 35.75 | 3,000 | 107,250 | 123,480 | Form |
| 3 | Zugelder, Dan | EVP, Chief Revenue Officer | Direct | Sell | 12112025 | 45.27 | 7,505 | 339,751 | 404,035 | Form |
| 4 | Greifeneder, Bernd | EVP, Chief Technology Officer | Spouse | Sell | 12092025 | 44.71 | 85 | 3,800 | 59,062 | Form |
| 5 | Campbell, Lisa M | Direct | Sell | 12052025 | 44.24 | 253 | 11,193 | 55,964 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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