Datadog (NASDAQ:DDOG) Updates FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.51-1.57 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $150.00 price target on shares of Datadog in a research report on Wednesday, April 17th. Wolfe Research lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Canaccord Genuity Group reaffirmed a buy rating and issued a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Robert W. Baird raised Datadog from a neutral rating to an outperform rating and upped their target price for the company from $130.00 to $140.00 in a report on Wednesday. Finally, Needham & Company LLC reissued a buy rating and issued a $165.00 price target on shares of Datadog in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $135.58.

Datadog Stock Up 1.6 %

NASDAQ:DDOG traded up $1.88 during trading hours on Friday, reaching $117.75. The company’s stock had a trading volume of 754,537 shares, compared to its average volume of 4,238,688. Datadog has a one year low of $77.81 and a one year high of $138.61. The business’s 50-day moving average is $124.30 and its 200-day moving average is $119.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The company has a market cap of $39.08 billion, a price-to-earnings ratio of 965.58 and a beta of 1.14.

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

Insider Transactions at Datadog

In related news, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the transaction, the insider now owns 100,053 shares in the company, valued at approximately $11,343,008.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $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 300 shares of Datadog stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total value of $34,011.00. Following the sale, the insider now directly owns 100,053 shares in the company, valued at $11,343,008.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 712,530 shares of company stock worth $91,195,791. 11.78% of the stock is owned by 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.