Datadog (NASDAQ:DDOG) Updates FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY24 earnings guidance on Tuesday. 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.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Datadog from $140.00 to $155.00 and gave the company a buy rating in a research note on Wednesday, February 14th. Barclays increased their target price on shares of Datadog from $138.00 to $152.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. BMO Capital Markets reaffirmed an outperform rating and issued a $155.00 price objective (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Stifel Nicolaus restated a buy rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Finally, Royal Bank of Canada increased their price target on Datadog from $145.00 to $151.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $136.04.

Datadog Stock Performance

Shares of DDOG opened at $126.97 on Tuesday. The stock has a 50 day moving average of $124.94 and a 200 day moving average of $118.97. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog has a 12 month low of $75.02 and a 12 month high of $138.61. The company has a market capitalization of $42.14 billion, a price-to-earnings ratio of 1,058.08 and a beta of 1.14.

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

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 19,226 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the sale, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO David M. Obstler sold 31,007 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $3,986,880.06. Following the completion of the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,384,058.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The disclosure for this sale can be found here. Over the last ninety 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.