Datadog (NASDAQ:DDOG) Releases FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY24 earnings guidance on Tuesday. 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 Stock Down 0.5 %

NASDAQ DDOG traded down $0.53 during midday trading on Thursday, hitting $116.75. 1,835,470 shares of the company traded hands, compared to its average volume of 4,259,389. 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 company has a market cap of $38.75 billion, a PE ratio of 977.33 and a beta of 1.14. The company’s 50-day simple moving average is $124.57 and its 200-day simple moving average is $119.16. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61.

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. The business had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. As a group, equities research analysts forecast that Datadog will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on DDOG. Citigroup increased their price objective on Datadog from $125.00 to $150.00 and gave the company a buy rating in a report on Monday, January 22nd. Stifel Nicolaus reiterated a buy rating and set a $152.00 price target on shares of Datadog in a research note on Monday, April 22nd. Wolfe Research raised their price objective on Datadog from $140.00 to $150.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Mizuho upped their price target on shares of Datadog from $108.00 to $130.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Finally, Canaccord Genuity Group reissued a buy rating and issued a $150.00 price objective on shares of Datadog in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $135.58.

Insider Activity

In other news, CRO Sean Michael Walters sold 20,692 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,660,577.36. Following the completion of the sale, the executive now directly owns 182,593 shares in the company, valued at $23,477,807.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Olivier Pomel sold 19,226 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,897,694.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 20,692 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the sale, the executive now directly owns 182,593 shares in the company, valued at approximately $23,477,807.94. The disclosure for this sale can be found here. Insiders sold 712,230 shares of company stock worth $91,161,780 over the last ninety days. 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.