Datadog (NASDAQ:DDOG) Releases Q3 Earnings Guidance

Datadog (NASDAQ:DDOGGet Rating) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.15 to $0.17 for the period, compared to the consensus estimate of $0.16. The company issued revenue guidance of $410 million to $414 million, compared to the consensus revenue estimate of $410.12 million. Datadog also updated its FY 2022 guidance to $0.74-$0.81 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Datadog in a research report on Thursday, July 7th. They issued a hold rating and a $120.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Datadog in a research report on Tuesday, July 19th. They issued an outperform rating and a $172.00 price target on the stock. Rosenblatt Securities reduced their price target on shares of Datadog from $180.00 to $146.00 and set a buy rating on the stock in a research report on Friday, July 29th. Citigroup reduced their price target on shares of Datadog from $175.00 to $170.00 and set a buy rating on the stock in a research report on Friday. Finally, Raymond James reduced their price target on shares of Datadog from $170.00 to $140.00 and set an outperform rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has an average rating of Moderate Buy and a consensus target price of $154.20.

Datadog Price Performance

Shares of DDOG traded up $2.80 during mid-day trading on Friday, hitting $113.29. The company’s stock had a trading volume of 6,396,046 shares, compared to its average volume of 5,201,618. The firm has a 50-day moving average price of $98.82 and a 200 day moving average price of $121.67. The stock has a market capitalization of $35.69 billion, a price-to-earnings ratio of 11,340.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.33 and a quick ratio of 3.33. Datadog has a fifty-two week low of $81.12 and a fifty-two week high of $199.68.

Datadog (NASDAQ:DDOGGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.14 by $0.10. Datadog had a net margin of 0.48% and a return on equity of 2.34%. The business had revenue of $406.14 million during the quarter, compared to analysts’ expectations of $381.28 million. During the same period last year, the company posted ($0.02) earnings per share. The firm’s quarterly revenue was up 73.9% compared to the same quarter last year. On average, research analysts predict that Datadog will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CFO David M. Obstler sold 9,693 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $115.38, for a total value of $1,118,378.34. Following the completion of the sale, the chief financial officer now owns 209,810 shares of the company’s stock, valued at approximately $24,207,877.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Datadog news, CFO David M. Obstler sold 9,693 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $115.38, for a total transaction of $1,118,378.34. Following the transaction, the chief financial officer now owns 209,810 shares in the company, valued at approximately $24,207,877.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Obstler sold 15,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $109.78, for a total value of $1,646,700.00. Following the transaction, the chief financial officer now owns 209,810 shares in the company, valued at approximately $23,032,941.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,650 shares of company stock worth $15,336,520. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DDOG. Beacon Pointe Advisors LLC acquired a new stake in shares of Datadog during the first quarter valued at about $851,000. Sender Co & Partners Inc. acquired a new position in Datadog in the first quarter valued at approximately $700,000. Atria Wealth Solutions Inc. acquired a new position in Datadog in the first quarter valued at approximately $585,000. Pearl River Capital LLC acquired a new position in Datadog in the first quarter valued at approximately $571,000. Finally, Cetera Investment Advisers lifted its stake in Datadog by 70.7% in the first quarter. Cetera Investment Advisers now owns 3,642 shares of the company’s stock valued at $552,000 after buying an additional 1,509 shares during the period. Institutional investors own 65.17% of the company’s stock.

About Datadog

(Get Rating)

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.

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