Datadog (NASDAQ:DDOG) Updates Q2 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.34-0.36 for the period, compared to the consensus earnings per share estimate of $0.34. The company issued revenue guidance of $620-624 million, compared to the consensus revenue estimate of $617.24 million. Datadog also updated its FY24 guidance to $1.51-1.57 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup increased their price target on Datadog from $125.00 to $150.00 and gave the stock a buy rating in a report on Monday, January 22nd. Mizuho increased their price objective on shares of Datadog from $108.00 to $130.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. William Blair reissued an outperform rating on shares of Datadog in a research report on Friday, February 16th. Robert W. Baird raised shares of Datadog from a neutral rating to an outperform rating and increased their price objective for the stock from $130.00 to $140.00 in a research report on Wednesday. Finally, Canaccord Genuity Group reissued a buy rating and set a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $135.58.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $0.39 during midday trading on Thursday, reaching $116.89. The company had a trading volume of 1,769,858 shares, compared to its average volume of 4,258,673. Datadog has a 52-week low of $77.81 and a 52-week high of $138.61. The company’s 50 day moving average price is $124.57 and its 200 day moving average price is $119.16. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The stock has a market cap of $38.79 billion, a P/E ratio of 977.33 and a beta of 1.14.

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

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.41, for a total value of $10,739,736.17. Following the sale, the chief executive officer now owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CRO Sean Michael Walters sold 10,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total transaction of $1,298,600.00. Following the completion of the transaction, the executive now directly owns 162,706 shares in the company, valued at approximately $21,129,001.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The disclosure for this sale can be found here. Insiders sold 712,230 shares of company stock valued at $91,161,780 over the last ninety days. 11.78% of the stock is currently owned by 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.