Datadog (NASDAQ:DDOG) Announces Quarterly Earnings Results

Posted by Matthew Jenks on Aug 6th, 2022

Datadog (NASDAQ:DDOG – Get Rating) released its quarterly earnings data 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. The firm had revenue of $406.14 million for the quarter, compared to analyst estimates of $381.28 million. Datadog had a return on equity of 1.53% and a net margin of 0.17%. The business’s revenue for the quarter was up 73.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $2.80 during mid-day trading on Friday, reaching $113.29. The company had a trading volume of 6,367,667 shares, compared to its average volume of 5,113,981. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.66. 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. The company’s 50-day moving average price is $98.82 and its 200-day moving average price is $121.67. Datadog has a one year low of $81.12 and a one year high of $199.68.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DDOG. Canaccord Genuity Group began coverage on Datadog in a research report on Thursday, July 7th. They set a “hold” rating and a $120.00 price target on the stock. Sanford C. Bernstein started coverage on Datadog in a report on Tuesday, July 19th. They set an “outperform” rating and a $172.00 price objective on the stock. Royal Bank of Canada raised their target price on Datadog from $115.00 to $125.00 in a research report on Friday. The Goldman Sachs Group lowered their price objective on Datadog from $250.00 to $223.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Finally, Jefferies Financial Group reduced their target price on Datadog from $170.00 to $125.00 in a research note on Monday, May 23rd. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.20.

Insider Buying and Selling

In other Datadog news, Director Shardul Shah sold 16,487 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $99.49, for a total transaction of $1,640,291.63. Following the sale, the director now owns 440,523 shares of the company’s stock, valued at approximately $43,827,633.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Shardul Shah sold 16,487 shares of the company’s stock in a transaction 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 transaction, the director now owns 440,523 shares of the company’s stock, valued at $43,827,633.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Madre Armelle De sold 3,750 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $110.00, for a total transaction of $412,500.00. Following the completion of the transaction, the insider now directly owns 67,804 shares in the company, valued at approximately $7,458,440. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,650 shares of company stock valued at $15,336,520. 15.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DDOG. Wetherby Asset Management Inc. increased its holdings in shares of Datadog by 16.2% in the first quarter. Wetherby Asset Management Inc. now owns 1,464 shares of the company’s stock worth $222,000 after purchasing an additional 204 shares during the period. Captrust Financial Advisors grew its position in Datadog by 71.7% in the first quarter. Captrust Financial Advisors now owns 1,921 shares of the company’s stock worth $291,000 after acquiring an additional 802 shares in the last quarter. XTX Topco Ltd purchased a new position in Datadog in the first quarter worth $302,000. AJ Wealth Strategies LLC purchased a new position in Datadog in the first quarter worth $304,000. Finally, Fund Management at Engine No. 1 LLC purchased a new position in Datadog in the first quarter worth $330,000. Institutional investors own 65.17% of the company’s stock.

About Datadog

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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.