This Top Cloud Computing Stock Is Starting to Look Like a Great Deal
The bear market of 2022 has been brutal to software stocks, and some of them are rightfully being punished. Fast growth is good, but profitability matters. And many upstart cloud software companies have been found to be deficient in this department.
That's not the case for Dynatrace (NYSE: DT). The company is dedicated to growing profitably, and the financial results show it. Nevertheless, headed into the fourth quarter of 2022, shares sold off some 45% this year as the stock gets hammered along with the rest of the tech market. Here's why Dynatrace is starting to look like a good deal.
One reason the market is being clobbered relates to fears of a recession. As economic downturn risk increases, many organizations tighten up their budgets. But the top brass at many cloud companies say they're still growing because "digital transformation" remains a top priority. That makes sense, as investing in digital processes helps a business get more efficient and saves resources in the long run.
Source Fool.com
