2023 has been a big year for many tech stocks as they have rallied back toward their previous highs. Cloud and AI-powered software company Dynatrace (NYSE: DT) was no exception -- at least, not until after its latest earnings update. The company just started a new fiscal year, and its Q1 financial results were impressive. Yet the stock plunged after the report was published. Is now a buying opportunity?

Dynatrace is an infrastructure software provider, specifically geared toward large multinational companies that are migrating to and using complex cloud-based applications. Basically, Dynatrace helps these organizations monitor their apps and data, and uses AI to find performance issues, and recommend and automate fixes.

Sound familiar? This branch of the infrastructure software industry includes top names like Datadog and Splunk. It's notable, though, that market research firm Gartner recently named Dynatrace as the leader among its peer group for application performance monitoring and observability. 

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Source Fool.com