Datadog (NASDAQ:DDOG) Releases Q2 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.34-0.36 for the period, compared to the consensus EPS 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.

Datadog Stock Performance

Shares of DDOG traded down $13.92 during mid-day trading on Tuesday, hitting $113.05. 18,057,708 shares of the company’s stock were exchanged, compared to its average volume of 4,197,847. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a market cap of $37.52 billion, a price-to-earnings ratio of 943.50 and a beta of 1.14. The stock’s 50-day simple moving average is $124.94 and its 200-day simple moving average is $118.97. Datadog has a 52 week low of $75.02 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm 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 revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. On average, equities research analysts expect that Datadog will post -0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Datadog from $120.00 to $130.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. William Blair reaffirmed an outperform rating on shares of Datadog in a report on Friday, February 16th. Royal Bank of Canada lifted their price target on Datadog from $145.00 to $151.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. BMO Capital Markets reiterated an outperform rating and issued a $155.00 price target (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $150.00 price target on shares of Datadog in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $136.04.

Insiders Place Their Bets

In other Datadog 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 completion of the sale, the insider now directly owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the sale, the chief technology officer now owns 247,328 shares in the company, valued at $33,414,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Madre Armelle De sold 600 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders 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.