Datadog (NASDAQ:DDOG) Updates Q2 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.34-0.36 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $620-624 million, compared to the consensus revenue estimate of $617.24 million. Datadog also updated its FY24 guidance to $1.51-1.57 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DDOG. Needham & Company LLC lifted their price objective on Datadog from $125.00 to $165.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Robert W. Baird upped their target price on shares of Datadog from $120.00 to $130.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Citigroup raised their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Wells Fargo & Company upgraded Datadog from an equal weight rating to an overweight rating and raised their target price for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada upped their price target on Datadog from $145.00 to $151.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $136.04.

Datadog Trading Up 2.2 %

NASDAQ DDOG opened at $126.97 on Tuesday. The stock has a market capitalization of $42.14 billion, a price-to-earnings ratio of 1,058.08 and a beta of 1.14. Datadog has a 52 week low of $75.02 and a 52 week high of $138.61. The stock’s 50 day moving average price is $124.94 and its two-hundred day moving average price is $118.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, analysts anticipate that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other news, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the transaction, the insider now owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Madre Armelle De sold 600 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the transaction, the insider now directly owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the transaction, the executive now directly owns 182,593 shares of the company’s stock, valued at $23,477,807.94. The disclosure for this sale can be found here. Insiders have sold a total of 626,593 shares of company stock worth $80,422,044 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Datadog Company Profile

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.