Datadog (NASDAQ:DDOG) Updates FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.51-1.57 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of DDOG stock traded up $1.88 during mid-day trading on Friday, hitting $117.75. 754,537 shares of the stock were exchanged, compared to its average volume of 4,238,688. The firm has a fifty day moving average of $124.30 and a 200 day moving average of $119.14. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog has a 52-week low of $77.81 and a 52-week high of $138.61. The company has a market cap of $39.08 billion, a PE ratio of 965.58 and a beta of 1.14.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on DDOG. Citigroup lifted their target price on shares of Datadog from $125.00 to $150.00 and gave the company a buy rating in a report on Monday, January 22nd. Cantor Fitzgerald reiterated an overweight rating and set a $150.00 price target on shares of Datadog in a research note on Wednesday, April 17th. Royal Bank of Canada upped their price target on shares of Datadog from $145.00 to $151.00 and gave the company an outperform rating in a report on Wednesday, February 14th. William Blair restated an outperform rating on shares of Datadog in a report on Friday, February 16th. Finally, Mizuho raised 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. Four 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.com, Datadog currently has an average rating of Moderate Buy and a consensus price target of $135.58.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,897,694.50. The disclosure for this sale can be found here. Insiders sold a total of 712,530 shares of company stock valued at $91,195,791 over the last quarter. 11.78% of the stock is owned by corporate insiders.

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.