Datadog (NASDAQ:DDOG) Issues FY 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.510-1.570 for the period, compared to the consensus estimate of 1.450. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Datadog also updated its Q2 2024 guidance to 0.340-0.360 EPS.

Datadog Stock Performance

Shares of DDOG traded up $3.52 during trading hours on Wednesday, hitting $115.92. The stock had a trading volume of 2,766,752 shares, compared to its average volume of 4,220,188. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61. The stock has a fifty day moving average price of $124.57 and a 200 day moving average price of $119.16. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The firm has a market capitalization of $38.47 billion, a PE ratio of 936.67 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS 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 in the prior year, the business posted ($0.08) EPS. Datadog’s revenue was up 25.6% on a year-over-year basis. Analysts anticipate that Datadog will post -0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wedbush restated an outperform rating and set a $155.00 target price on shares of Datadog in a research note on Monday. William Blair reiterated an outperform rating on shares of Datadog in a research note on Friday, February 16th. Stifel Nicolaus reaffirmed a buy rating and issued a $152.00 price objective on shares of Datadog in a research note on Monday, April 22nd. Cantor Fitzgerald reiterated an overweight rating and set a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Finally, Mizuho boosted their price target on shares of Datadog from $108.00 to $130.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Datadog presently has a consensus rating of Moderate Buy and an average target price of $136.42.

Insiders Place Their Bets

In related news, CFO David M. Obstler sold 70,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $33,223,809.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the sale, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $33,223,809.43. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The disclosure for this sale can be found here. Insiders have sold a total of 626,593 shares of company stock worth $80,422,044 in the last three months. Corporate 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.