Datadog (NASDAQ:DDOG) Updates Q2 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.34-0.36 for the period, compared to the consensus earnings per share 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.

Datadog Trading Up 4.4 %

Shares of DDOG stock traded up $5.00 during mid-day trading on Wednesday, reaching $117.40. 6,928,685 shares of the stock traded hands, compared to its average volume of 4,261,851. The stock’s fifty day simple moving average is $124.57 and its two-hundred day simple moving average is $119.16. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The company has a market cap of $38.96 billion, a price-to-earnings ratio of 973.67 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.08) earnings per share. On average, research analysts anticipate that Datadog will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

DDOG has been the topic of a number of recent analyst reports. Robert W. Baird raised Datadog from a neutral rating to an outperform rating and lifted their price objective for the stock from $130.00 to $140.00 in a research note on Wednesday. Cantor Fitzgerald restated an overweight rating and issued a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. Citigroup upped their price objective on shares of Datadog from $125.00 to $150.00 and gave the stock a buy rating in a research report on Monday, January 22nd. BMO Capital Markets reduced their price objective on Datadog from $155.00 to $140.00 and set an outperform rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada raised their price target on shares of Datadog from $145.00 to $151.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $135.58.

Insider Buying and Selling at Datadog

In other Datadog news, COO Adam Blitzer sold 20,892 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,686,293.36. Following the transaction, the chief operating officer now owns 203,503 shares in the company, valued at $26,166,415.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Adam Blitzer sold 20,892 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the completion of the sale, the chief operating officer now owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the completion of the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The disclosure for this sale can be found here. Insiders sold 626,593 shares of company stock valued at $80,422,044 in the last quarter. Company insiders own 11.78% of the company’s stock.

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.