Datadog (NASDAQ:DDOG) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Datadog (NASDAQ:DDOGGet Rating) posted its earnings results on Thursday. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10, Briefing.com reports. Datadog had a net margin of 0.17% and a return on equity of 1.53%. The firm had revenue of $406.14 million during the quarter, compared to analysts’ expectations of $381.28 million. During the same period in the previous year, the business posted ($0.02) EPS. The business’s revenue was up 73.9% compared to the same quarter last year.

Datadog Trading Up 2.5 %

Shares of DDOG traded up $2.80 during mid-day trading on Friday, reaching $113.29. The stock had a trading volume of 6,367,667 shares, compared to its average volume of 5,113,981. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.33 and a quick ratio of 3.33. Datadog has a 52-week low of $81.12 and a 52-week high of $199.68. The business’s fifty day moving average is $98.82 and its 200 day moving average is $121.67. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of -11,329,000.00 and a beta of 1.15.

Insider Activity at Datadog

In related news, CRO Sean Michael Walters sold 1,471 shares of Datadog stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $102.22, for a total value of $150,365.62. Following the completion of the sale, the executive now owns 154,639 shares in the company, valued at approximately $15,807,198.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Shardul Shah sold 16,487 shares of Datadog stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $99.49, for a total value of $1,640,291.63. Following the completion of the sale, the director now owns 440,523 shares in the company, valued at approximately $43,827,633.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 1,471 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $102.22, for a total transaction of $150,365.62. Following the completion of the transaction, the executive now owns 154,639 shares of the company’s stock, valued at approximately $15,807,198.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,650 shares of company stock valued at $15,336,520. 15.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in shares of Datadog by 605.3% in the first quarter. The Manufacturers Life Insurance Company now owns 50,969 shares of the company’s stock worth $7,641,000 after acquiring an additional 43,742 shares in the last quarter. Toroso Investments LLC grew its stake in shares of Datadog by 54.5% in the first quarter. Toroso Investments LLC now owns 7,167 shares of the company’s stock worth $1,086,000 after acquiring an additional 2,528 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Datadog by 11.6% in the first quarter. Worldquant Millennium Advisors LLC now owns 148,076 shares of the company’s stock worth $22,429,000 after acquiring an additional 15,381 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Datadog by 464.4% during the first quarter. Wealthfront Advisers LLC now owns 16,085 shares of the company’s stock worth $2,437,000 after purchasing an additional 13,235 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC grew its stake in shares of Datadog by 9.2% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 23,500 shares of the company’s stock worth $3,560,000 after purchasing an additional 1,972 shares in the last quarter. Institutional investors and hedge funds own 65.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DDOG shares. Needham & Company LLC reduced their price objective on shares of Datadog from $145.00 to $135.00 and set a “buy” rating for the company in a research report on Friday. Mizuho reduced their price objective on shares of Datadog from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Friday. Barclays reduced their price objective on shares of Datadog from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday. Monness Crespi & Hardt cut shares of Datadog from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, KeyCorp dropped their target price on shares of Datadog from $132.00 to $127.00 and set an “overweight” rating for the company in a report on Friday. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus target price of $154.20.

Datadog Company Profile

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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

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Earnings History for Datadog (NASDAQ:DDOG)

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