Datadog (NASDAQ:DDOG) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

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Datadog (NASDAQ:DDOG) issued its earnings results on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.10, reports. The company had revenue of $95.90 million during the quarter, compared to analyst estimates of $84.67 million. The business’s revenue for the quarter was up 87.7% on a year-over-year basis. Datadog updated its Q4 guidance to ($0.02-0.01) EPS.

Shares of NASDAQ DDOG traded up $0.85 during mid-day trading on Tuesday, reaching $34.40. The company had a trading volume of 3,194,500 shares, compared to its average volume of 1,819,942. The business has a 50-day moving average price of $33.42. Datadog has a 1-year low of $27.55 and a 1-year high of $41.44.

In other Datadog news, major shareholder Iconiq Strategic Partners Ii, bought 525,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $27.00 per share, with a total value of $14,175,000.00. Also, CFO David M. Obstler bought 15,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $27.00 per share, with a total value of $405,000.00. Insiders purchased a total of 571,280 shares of company stock worth $15,271,460 over the last 90 days.

A number of equities analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on Datadog in a report on Monday, October 14th. They issued a “buy” rating and a $40.00 target price on the stock. Barclays assumed coverage on Datadog in a report on Monday, October 14th. They issued an “overweight” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Datadog in a report on Monday, October 14th. They issued an “overweight” rating and a $45.00 target price on the stock. Goldman Sachs Group assumed coverage on Datadog in a report on Monday, October 14th. They issued a “neutral” rating and a $33.00 target price on the stock. Finally, Needham & Company LLC assumed coverage on Datadog in a report on Monday, October 14th. They issued a “buy” rating and a $45.00 target price on the stock. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $40.00.

Datadog Company Profile

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.

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