Datadog (NASDAQ:DDOG) Updates FY 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.510-1.570 for the period, compared to the consensus estimate of 1.450. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Datadog also updated its Q2 2024 guidance to 0.340-0.360 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DDOG shares. Citigroup increased their target price on Datadog from $125.00 to $150.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Canaccord Genuity Group reissued a buy rating and issued a $150.00 target price on shares of Datadog in a report on Friday, February 23rd. Wedbush reiterated an outperform rating and issued a $155.00 price target on shares of Datadog in a report on Monday. Cantor Fitzgerald reissued an overweight rating and set a $150.00 price objective on shares of Datadog in a report on Wednesday, April 17th. Finally, BMO Capital Markets restated an outperform rating and set a $155.00 target price (up from $140.00) on shares of Datadog in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $136.42.

Datadog Trading Up 3.1 %

Shares of NASDAQ:DDOG traded up $3.52 during midday trading on Wednesday, reaching $115.92. The company’s stock had a trading volume of 2,766,752 shares, compared to its average volume of 4,220,188. The business has a 50 day moving average price of $124.57 and a 200 day moving average price of $119.16. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The firm has a market cap of $38.47 billion, a price-to-earnings ratio of 936.67 and a beta of 1.14. 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 earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) 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 firm had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. Datadog’s revenue was up 25.6% compared to the same quarter last year. Research analysts forecast that Datadog will post -0.14 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, CRO Sean Michael Walters sold 20,692 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,660,577.36. Following the transaction, the executive now directly owns 182,593 shares in the company, valued at approximately $23,477,807.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Olivier Pomel sold 23,924 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $43,858,972.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 20,692 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,660,577.36. Following the completion of the transaction, the executive now directly owns 182,593 shares in the company, valued at $23,477,807.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 626,593 shares of company stock valued at $80,422,044. Company 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.