Datadog (NASDAQ:DDOG) Releases FY 2024 Earnings Guidance

Datadog (NASDAQ:DDOGGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.510-1.570 for the period, compared to the consensus earnings per share 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 Trading Up 2.7 %

NASDAQ DDOG traded up $3.10 on Friday, hitting $118.97. 5,167,637 shares of the company were exchanged, compared to its average volume of 3,687,951. The company’s 50 day moving average price is $123.99 and its 200-day moving average price is $119.12. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. 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 $39.48 billion, a P/E ratio of 991.42 and a beta of 1.14.

Datadog (NASDAQ:DDOGGet Free Report) last released its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating 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 company had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Analysts predict that Datadog will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Rosenblatt Securities reissued a buy rating and issued a $146.00 price target on shares of Datadog in a research note on Monday. Citigroup raised their price target on shares of Datadog from $125.00 to $150.00 and gave the company a buy rating in a report on Monday, January 22nd. Truist Financial increased their target price on shares of Datadog from $140.00 to $155.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Canaccord Genuity Group reaffirmed a buy rating and issued a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. Finally, Wedbush restated an outperform rating and issued a $155.00 target price on shares of Datadog in a report on Monday. Four equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $135.58.

Get Our Latest Stock Analysis on Datadog

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the completion of the sale, the chief executive officer now owns 299,075 shares in the company, valued at approximately $38,897,694.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on 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 sale, the chief technology officer now owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $130.06, for a total value of $2,500,533.56. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 712,530 shares of company stock worth $91,195,791. Insiders own 11.78% of the company’s stock.

Datadog Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Datadog (NASDAQ:DDOG)

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