Datadog (NASDAQ:DDOG) Updates FY 2021 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.390-$0.400 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.280. The company issued revenue guidance of $993 million-$995 million, compared to the consensus revenue estimate of $943.44 million.Datadog also updated its Q4 2021 guidance to $0.110-$0.120 EPS.

DDOG traded up $0.92 during trading on Thursday, hitting $180.34. 2,899,895 shares of the company traded hands, compared to its average volume of 3,078,521. The firm has a market cap of $56.27 billion, a P/E ratio of -1,288.05 and a beta of 1.05. The stock’s fifty day moving average is $161.79 and its 200 day moving average is $128.44. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 0.77. Datadog has a one year low of $69.73 and a one year high of $199.68.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.07. The company had revenue of $270.50 million during the quarter, compared to analyst estimates of $247.82 million. Datadog had a negative net margin of 5.01% and a negative return on equity of 2.72%. The firm’s revenue for the quarter was up 74.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, equities research analysts forecast that Datadog will post -0.06 EPS for the current fiscal year.

DDOG has been the subject of a number of research reports. Royal Bank of Canada upgraded shares of Datadog from a sector perform rating to an outperform rating and increased their target price for the stock from $191.00 to $235.00 in a research report on Friday, November 19th. Morgan Stanley increased their target price on shares of Datadog from $164.00 to $200.00 and gave the stock an overweight rating in a research report on Sunday, November 7th. Loop Capital increased their target price on shares of Datadog from $160.00 to $230.00 and gave the stock a buy rating in a research report on Friday, November 5th. Rosenblatt Securities increased their target price on shares of Datadog from $120.00 to $150.00 and gave the stock a neutral rating in a research report on Friday, October 29th. Finally, Truist increased their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a buy rating in a report on Friday, August 6th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Datadog presently has an average rating of Buy and a consensus target price of $171.55.

In other Datadog news, CFO David M. Obstler sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $137.25, for a total transaction of $2,058,750.00. Following the transaction, the chief financial officer now directly owns 192,095 shares in the company, valued at $26,365,038.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amit Agarwal sold 5,676 shares of the stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $136.34, for a total transaction of $773,865.84. The disclosure for this sale can be found here. Insiders sold 2,848,402 shares of company stock worth $464,208,257 over the last ninety days. 20.23% of the stock is currently owned by insiders.

About Datadog

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of customers technology stack.

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