Datadog (NASDAQ:DDOG) Issues FY22 Earnings Guidance

Datadog (NASDAQ:DDOGGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.74 to $0.81 for the period, compared to the consensus earnings per share estimate of $0.76. The company issued revenue guidance of $1.61 billion to $1.63 billion, compared to the consensus revenue estimate of $1.62 billion. Datadog also updated its FY 2022 guidance to $0.74-$0.81 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Datadog from $115.00 to $125.00 in a research report on Friday. Needham & Company LLC lowered their target price on Datadog from $145.00 to $135.00 and set a buy rating for the company in a research note on Friday. Raymond James reduced their price objective on Datadog from $170.00 to $140.00 and set an outperform rating for the company in a research note on Friday. Morgan Stanley reduced their price target on shares of Datadog from $159.00 to $155.00 and set an overweight rating on the stock in a research report on Monday, July 11th. Finally, Jefferies Financial Group dropped their price target on shares of Datadog from $170.00 to $125.00 in a research report on Monday, May 23rd. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Datadog presently has an average rating of Moderate Buy and a consensus price target of $154.20.

Datadog Stock Up 2.5 %

Shares of DDOG traded up $2.80 on Friday, hitting $113.29. The company’s stock had a trading volume of 6,396,046 shares, compared to its average volume of 5,201,618. Datadog has a fifty-two week low of $81.12 and a fifty-two week high of $199.68. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average price is $98.82 and its 200-day moving average price is $121.67. The firm has a market capitalization of $35.69 billion, a price-to-earnings ratio of 11,340.34 and a beta of 1.15.

Datadog (NASDAQ:DDOGGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. The company had revenue of $406.14 million during the quarter, compared to analyst estimates of $381.28 million. Datadog had a return on equity of 2.34% and a net margin of 0.48%. The firm’s revenue for the quarter was up 73.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. On average, equities research analysts expect that Datadog will post -0.14 EPS for the current year.

Insider Activity

In related news, Director Shardul Shah sold 16,487 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $99.49, for a total value of $1,640,291.63. Following the completion of the transaction, the director now directly owns 440,523 shares in the company, valued at $43,827,633.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Datadog news, CRO Sean Michael Walters sold 1,471 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $102.22, for a total transaction of $150,365.62. Following the completion of the sale, the executive now owns 154,639 shares in the company, valued at approximately $15,807,198.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shardul Shah sold 16,487 shares of the business’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $99.49, for a total transaction of $1,640,291.63. Following the transaction, the director now owns 440,523 shares in the company, valued at $43,827,633.27. The disclosure for this sale can be found here. Insiders sold 148,650 shares of company stock worth $15,336,520 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On Datadog

Hedge funds have recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. raised its stake in shares of Datadog by 16.2% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,464 shares of the company’s stock worth $222,000 after purchasing an additional 204 shares during the period. Captrust Financial Advisors boosted its stake in shares of Datadog by 71.7% during the first quarter. Captrust Financial Advisors now owns 1,921 shares of the company’s stock valued at $291,000 after purchasing an additional 802 shares during the period. XTX Topco Ltd purchased a new stake in Datadog in the 1st quarter worth approximately $302,000. AJ Wealth Strategies LLC purchased a new stake in Datadog in the first quarter worth about $304,000. Finally, Fund Management at Engine No. 1 LLC bought a new stake in Datadog during the first quarter worth about $330,000. 65.17% of the stock is currently owned by institutional investors and hedge funds.

Datadog Company Profile

(Get Rating)

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

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