Datadog (NASDAQ:DDOG) Issues FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) 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.

Datadog Price Performance

Shares of NASDAQ DDOG traded down $0.53 during midday trading on Thursday, reaching $116.75. 1,835,470 shares of the company were exchanged, compared to its average volume of 4,259,389. Datadog has a one year low of $77.81 and a one year high of $138.61. The stock has a market cap of $38.75 billion, a P/E ratio of 977.33 and a beta of 1.14. 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 stock’s 50-day moving average price is $124.57 and its 200-day moving average price is $119.16.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same period last year, the company posted ($0.08) EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts anticipate that Datadog will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on DDOG. Canaccord Genuity Group restated a buy rating and issued a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Wells Fargo & Company raised Datadog from an equal weight rating to an overweight rating and boosted their target price for the company from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Barclays decreased their target price on Datadog from $152.00 to $145.00 and set an overweight rating for the company in a research report on Wednesday. Truist Financial boosted their target price on Datadog from $140.00 to $155.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Finally, William Blair reaffirmed an outperform rating on shares of Datadog in a research report on Friday, February 16th. 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, the company currently has an average rating of Moderate Buy and a consensus price target of $135.58.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CRO Sean Michael Walters sold 10,000 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $129.86, for a total transaction of $1,298,600.00. Following the transaction, the executive now owns 162,706 shares of the company’s stock, valued at approximately $21,129,001.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 19,226 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,897,694.50. The disclosure for this sale can be found here. Insiders sold 712,230 shares of company stock worth $91,161,780 in the last quarter. 11.78% of the stock is currently owned by company 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.