Datadog (NASDAQ:DDOG) Releases FY 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.620-1.660 for the period, compared to the consensus estimate of 1.580. 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 FY24 guidance to $1.62 to $1.66 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DDOG. Monness Crespi & Hardt upgraded shares of Datadog from a sell rating to a neutral rating in a research note on Wednesday. BMO Capital Markets dropped their price target on Datadog from $140.00 to $132.00 and set an outperform rating on the stock in a research note on Friday. Mizuho upgraded shares of Datadog from a neutral rating to an outperform rating and raised their price target for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Scotiabank cut their target price on shares of Datadog from $145.00 to $135.00 and set a sector outperform rating for the company in a research report on Friday. Finally, Rosenblatt Securities reiterated a buy rating and issued a $146.00 target price on shares of Datadog in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $138.93.

Datadog Price Performance

Shares of NASDAQ:DDOG traded down $1.78 during midday trading on Friday, reaching $112.28. 4,515,414 shares of the company’s stock were exchanged, compared to its average volume of 4,125,572. The company’s 50 day simple moving average is $119.38 and its two-hundred day simple moving average is $122.98. The firm has a market capitalization of $37.56 billion, a PE ratio of 350.88, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $118.52, for a total value of $15,064,484.60. Following the completion of the transaction, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at $34,419,630.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $125.00, for a total transaction of $37,500.00. Following the completion of the sale, the insider now owns 99,965 shares in the company, valued at approximately $12,495,625. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $118.52, for a total transaction of $15,064,484.60. Following the transaction, the chief technology officer now owns 290,412 shares of the company’s stock, valued at approximately $34,419,630.24. The disclosure for this sale can be found here. Insiders sold 857,306 shares of company stock valued at $101,950,263 in the last ninety days. Insiders own 11.78% of the company’s stock.

Datadog Company Profile

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.