Datadog (NASDAQ:DDOG) Updates Q2 2024 Earnings Guidance

Datadog (NASDAQ:DDOG - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.340-0.360 for the period, compared to the consensus earnings per share estimate of 0.350. The company issued revenue guidance of $620.0 million-$624.0 million, compared to the consensus revenue estimate of $620.6 million. Datadog also updated its FY 2024 guidance to 1.510-1.570 EPS.

Datadog Stock Performance

Shares of DDOG stock traded up $4.88 on Wednesday, hitting $117.28. 8,312,567 shares of the stock were exchanged, compared to its average volume of 4,288,102. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $38.92 billion, a PE ratio of 977.33 and a beta of 1.14. Datadog has a one year low of $77.81 and a one year high of $138.61. The firm's 50 day moving average is $124.57 and its two-hundred day moving average is $119.16.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analysts' expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm's quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) EPS. Sell-side analysts expect that Datadog will post -0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DDOG has been the topic of a number of recent research reports. Stifel Nicolaus reissued a buy rating and set a $152.00 price objective on shares of Datadog in a report on Monday, April 22nd. Robert W. Baird raised Datadog from a neutral rating to an outperform rating and increased their price objective for the stock from $130.00 to $140.00 in a report on Wednesday. BMO Capital Markets lowered their price target on Datadog from $155.00 to $140.00 and set an outperform rating on the stock in a report on Wednesday. Mizuho raised their price target on Datadog from $108.00 to $130.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Finally, Barclays lowered their price target on Datadog from $152.00 to $145.00 and set an overweight rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $135.58.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 247,328 shares of the company's stock, valued at approximately $33,414,012.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO David M. Obstler sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company's stock, valued at $35,851,883.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The disclosure for this sale can be found here. Insiders have sold 712,230 shares of company stock valued at $91,161,780 in the last ninety days. 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.