Datadog (NASDAQ:DDOG) Updates FY24 Earnings Guidance

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

Datadog Stock Up 4.4 %

DDOG traded up $5.00 during midday trading on Wednesday, hitting $117.40. The company had a trading volume of 6,928,685 shares, compared to its average volume of 4,261,851. The company has a market capitalization of $38.96 billion, a price-to-earnings ratio of 973.67 and a beta of 1.14. The stock’s 50 day moving average price is $124.57 and its 200 day moving average price is $119.16. 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 has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) earnings per share. On average, research analysts anticipate that Datadog will post -0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Datadog from $155.00 to $140.00 and set an outperform rating on the stock in a report on Wednesday. Wedbush restated an outperform rating and issued a $155.00 target price on shares of Datadog in a report on Monday. Wolfe Research lifted their price target on Datadog from $140.00 to $150.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. Royal Bank of Canada increased their price objective on Datadog from $145.00 to $151.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Finally, Citigroup lifted their target price on Datadog from $125.00 to $150.00 and gave the company a buy rating in a research report on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $135.58.

Insider Buying and Selling

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 shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the transaction, the insider now owns 100,353 shares of the company’s stock, valued at $12,578,245.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, 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 transaction of $75,204.00. Following the completion of the sale, the insider now owns 100,353 shares in the company, valued at approximately $12,578,245.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $43,858,972.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 626,593 shares of company stock valued at $80,422,044. 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.