Datadog (NASDAQ:DDOG) Updates FY 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.750-1.770 for the period, compared to the consensus estimate of 1.650. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.6 billion. Datadog also updated its Q4 guidance to $0.42-0.44 EPS.

Datadog Stock Down 0.1 %

NASDAQ DDOG traded down $0.07 during trading on Thursday, reaching $128.28. 3,220,635 shares of the stock traded hands, compared to its average volume of 3,763,606. The firm has a market cap of $43.25 billion, a price-to-earnings ratio of 295.45, a price-to-earnings-growth ratio of 22.93 and a beta of 1.10. The stock’s 50-day moving average price is $119.21 and its 200 day moving average price is $119.49. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. Analysts anticipate that Datadog will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and boosted their target price for the company from $115.00 to $140.00 in a research report on Tuesday, October 1st. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Sanford C. Bernstein cut their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Barclays cut their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.54.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the transaction, the director now directly owns 451,533 shares of the company’s stock, valued at $57,195,685.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 444,291 shares of company stock valued at $54,154,859. 11.78% of the stock is owned by company insiders.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.