Datadog (NASDAQ:DDOG) Issues FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.51-1.57 for the period, compared to the consensus EPS estimate of $1.43. The company issued revenue guidance of $2.59-2.61 billion, compared to the consensus revenue estimate of $2.57 billion. Datadog also updated its Q2 guidance to $0.34-0.36 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DDOG. Wedbush reiterated an outperform rating and issued a $155.00 price objective on shares of Datadog in a report on Monday. Wolfe Research increased their price target on Datadog from $140.00 to $150.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Mizuho increased their price target on Datadog from $108.00 to $130.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Rosenblatt Securities restated a buy rating and issued a $146.00 price target on shares of Datadog in a report on Monday. Finally, Barclays increased their price objective on Datadog from $138.00 to $152.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $136.04.

Datadog Price Performance

Shares of DDOG stock traded down $13.92 during trading hours on Tuesday, reaching $113.05. The company’s stock had a trading volume of 18,057,708 shares, compared to its average volume of 4,197,847. The firm’s 50 day simple moving average is $124.94 and its 200-day simple moving average is $118.97. The company has a market capitalization of $37.52 billion, a price-to-earnings ratio of 943.50 and a beta of 1.14. Datadog has a fifty-two week low of $75.02 and a fifty-two week high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. During the same quarter last year, the business posted ($0.08) EPS. Datadog’s revenue for the quarter was up 25.6% on a year-over-year basis. Sell-side analysts forecast that Datadog will post -0.14 earnings per share for the current year.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the transaction, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The disclosure for this sale can be found here. Insiders have sold a total of 626,593 shares of company stock valued at $80,422,044 in the last 90 days. 11.78% of the stock is owned by corporate 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.