Datadog (NASDAQ:DDOG) Issues Q2 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.34-0.36 for the period, compared to the consensus estimate of $0.34. The company issued revenue guidance of $620-624 million, compared to the consensus revenue estimate of $617.24 million. Datadog also updated its FY24 guidance to $1.51-1.57 EPS.

Datadog Trading Up 4.4 %

Shares of Datadog stock traded up $5.00 during trading hours on Wednesday, reaching $117.40. 6,928,685 shares of the company’s stock were exchanged, compared to its average volume of 4,261,851. The firm has a market capitalization of $38.96 billion, a price-to-earnings ratio of 973.67 and a beta of 1.14. The company has a current ratio of 3.17, a quick 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 fifty day moving average of $124.57 and a 200-day moving average of $119.16.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS 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 during the quarter, compared to analysts’ expectations of $568.73 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The firm’s revenue was up 25.6% on a year-over-year basis. Sell-side analysts forecast that Datadog will post -0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DDOG. BMO Capital Markets reduced their target price on Datadog from $155.00 to $140.00 and set an outperform rating on the stock in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Datadog from $145.00 to $151.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Rosenblatt Securities reissued a buy rating and issued a $146.00 target price on shares of Datadog in a research note on Monday. Truist Financial upped their price target 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. Finally, William Blair reissued an outperform rating on shares of Datadog in a research report on Friday, February 16th. Four research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Datadog currently has a consensus rating of Moderate Buy and a consensus target price of $135.58.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the sale, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $43,858,972.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the sale, the chief executive officer now owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction 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 transaction, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 626,593 shares of company stock worth $80,422,044. Insiders own 11.78% of the company’s stock.

About Datadog

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.