Datadog (NASDAQ:DDOG) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DDOG shares. Rosenblatt Securities reiterated a buy rating and issued a $146.00 price objective on shares of Datadog in a research note on Monday. Wedbush restated an outperform rating and set a $155.00 target price on shares of Datadog in a research note on Monday. Stifel Nicolaus reiterated a buy rating and set a $152.00 price target on shares of Datadog in a report on Monday, April 22nd. BMO Capital Markets restated an outperform rating and issued a $155.00 price objective (up from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Finally, Wells Fargo & Company upgraded shares of Datadog from an equal weight rating to an overweight rating and increased their price objective for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, Datadog has an average rating of Moderate Buy and a consensus target price of $136.04.

Datadog Stock Down 11.5 %

Shares of NASDAQ:DDOG traded down $14.57 during midday trading on Tuesday, reaching $112.40. The company had a trading volume of 21,735,326 shares, compared to its average volume of 4,242,298. The stock has a market capitalization of $37.30 billion, a P/E ratio of 936.67 and a beta of 1.14. The stock's fifty day moving average price is $124.57 and its 200-day moving average price is $119.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. Datadog has a one year low of $75.02 and a one year high of $138.61.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 2.28% and a return on equity of 3.79%. The company'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 posted ($0.08) EPS. Equities research analysts expect that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other Datadog news, CFO David M. Obstler sold 70,000 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the completion of the sale, the chief financial officer now owns 275,191 shares in the company, valued at $33,223,809.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David M. Obstler sold 70,000 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company's stock, valued at approximately $33,223,809.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 626,593 shares of company stock worth $80,422,044. 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.