Datadog (NASDAQ:DDOG) Releases Q2 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.34-0.36 for the period, compared to the consensus estimate of $0.34. The company issued revenue guidance of $620-624 million, compared to the consensus revenue estimate of $617.24 million. Datadog also updated its FY24 guidance to $1.51-1.57 EPS.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wedbush restated an outperform rating and set a $155.00 price objective on shares of Datadog in a research report on Monday. Royal Bank of Canada raised their price target on Datadog from $145.00 to $151.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Rosenblatt Securities reissued a buy rating and issued a $146.00 price target on shares of Datadog in a research note on Monday. William Blair reissued an outperform rating on shares of Datadog in a research note on Friday, February 16th. Finally, Wells Fargo & Company raised Datadog from an equal weight rating to an overweight rating and boosted their price target for the company from $130.00 to $150.00 in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Datadog currently has a consensus rating of Moderate Buy and a consensus target price of $136.04.

Datadog Stock Down 11.0 %

Shares of NASDAQ DDOG traded down $13.92 during mid-day trading on Tuesday, reaching $113.05. 18,057,708 shares of the company’s stock were exchanged, compared to its average volume of 4,197,847. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 943.50 and a beta of 1.14. 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 business has a fifty day simple moving average of $124.94 and a 200 day simple moving average of $118.97. Datadog has a twelve month low of $75.02 and a twelve month high of $138.61.

Datadog (NASDAQ:DDOG) last posted 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 during the quarter, compared to the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. As a group, equities analysts expect that Datadog will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Amit Agarwal sold 33,311 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $4,283,128.38. Following the completion of the transaction, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Datadog news, CRO Sean Michael Walters sold 20,692 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the sale, the executive now directly owns 182,593 shares of the company’s stock, valued at $23,477,807.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Amit Agarwal sold 33,311 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $4,283,128.38. Following the completion of the sale, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 626,593 shares of company stock worth $80,422,044. 11.78% of the stock is owned by corporate insiders.

About Datadog

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.