Datadog (NASDAQ:DDOG) Updates FY 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.620-1.660 for the period, compared to the consensus EPS estimate of 1.580. 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 FY24 guidance to $1.62 to $1.66 EPS.

Analyst Ratings Changes

DDOG has been the topic of several analyst reports. BTIG Research raised shares of Datadog from a neutral rating to a buy rating and set a $143.00 price target on the stock in a research report on Thursday, August 1st. Robert W. Baird upgraded shares of Datadog from a neutral rating to an outperform rating and raised their target price for the company from $130.00 to $140.00 in a research note on Wednesday, May 8th. Wedbush reissued an outperform rating and set a $155.00 price target on shares of Datadog in a research report on Wednesday, June 26th. JMP Securities upgraded Datadog to a hold rating in a research note on Wednesday, May 8th. Finally, Monness Crespi & Hardt upgraded Datadog from a sell rating to a neutral rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $138.37.

Datadog Trading Up 5.3 %

Shares of DDOG stock traded up $5.78 during mid-day trading on Thursday, hitting $113.82. The company’s stock had a trading volume of 3,642,912 shares, compared to its average volume of 4,080,129. The company has a market cap of $38.07 billion, a PE ratio of 337.63, a P/E/G ratio of 37.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The company’s fifty day simple moving average is $119.40 and its 200-day simple moving average is $123.23. 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 data on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The company had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. As a group, equities research analysts expect that Datadog will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total value of $15,064,484.60. Following the sale, the chief technology officer now owns 290,412 shares in the company, valued at $34,419,630.24. The disclosure for this sale can be found here. Insiders sold a total of 857,306 shares of company stock worth $101,950,263 over the last quarter. 11.78% of the stock is currently owned by corporate insiders.

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.