Datadog (NASDAQ:DDOG) Releases FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.51-1.57 for the period, compared to the consensus 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

DDOG stock traded down $13.92 during mid-day trading on Tuesday, hitting $113.05. The company had a trading volume of 18,057,708 shares, compared to its average volume of 4,197,847. The company has a market capitalization of $37.52 billion, a price-to-earnings ratio of 943.50 and a beta of 1.14. Datadog has a 12-month low of $75.02 and a 12-month 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 50-day moving average price of $124.94 and a 200 day moving average price of $118.97.

Datadog (NASDAQ:DDOG) last announced its 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. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. During the same period in the prior year, the company earned ($0.08) EPS. The business’s revenue was up 25.6% compared to the same quarter last year. On average, research analysts anticipate that Datadog will post -0.14 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on DDOG. Wedbush reissued an outperform rating and issued a $155.00 price objective on shares of Datadog in a research report on Monday. Robert W. Baird upped their target price on shares of Datadog from $120.00 to $130.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Needham & Company LLC restated a buy rating and issued a $165.00 target price on shares of Datadog in a research note on Tuesday. Truist Financial increased their price objective on shares of Datadog from $140.00 to $155.00 and gave the company a buy rating in a research note on Wednesday, February 14th. Finally, Barclays increased their target price on shares of Datadog from $138.00 to $152.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Datadog currently has an average rating of Moderate Buy and a consensus target price of $136.04.

Insider Activity

In other news, CFO David M. Obstler sold 70,000 shares of Datadog stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Datadog news, CFO David M. Obstler sold 70,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 23,924 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now directly owns 337,247 shares in the company, valued at $43,858,972.35. The disclosure for this sale can be found here. Insiders have sold 626,593 shares of company stock valued at $80,422,044 in the last ninety days. 11.78% of the stock is currently owned by company 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.