Scotiabank Predicts Datadog’s FY2024 Earnings (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) – Investment analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of Datadog in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the company will post earnings per share of $0.62 for the year. Scotiabank currently has a “Sector Outperform” rating and a $133.00 price target on the stock. The consensus estimate for Datadog’s current full-year earnings is $0.52 per share. Scotiabank also issued estimates for Datadog’s FY2025 earnings at $0.49 EPS.

Several other analysts also recently issued reports on DDOG. BNP Paribas began coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. Sanford C. Bernstein cut their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Mizuho lifted their target price on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog has an average rating of “Moderate Buy” and an average price target of $157.46.

Datadog Trading Up 0.8 %

Shares of NASDAQ DDOG opened at $139.16 on Monday. The company has a market cap of $47.28 billion, a price-to-earnings ratio of 262.57, a price-to-earnings-growth ratio of 19.82 and a beta of 1.14. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08. The stock’s 50 day simple moving average is $145.36 and its 200 day simple moving average is $128.42.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction on Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the transaction, the director now owns 695,086 shares in the company, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the transaction, the director now owns 435,701 shares in the company, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,763 shares of company stock worth $87,543,649 in the last three months. 11.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC grew its holdings in shares of Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after buying an additional 126,613 shares in the last quarter. Geode Capital Management LLC grew its stake in Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after purchasing an additional 138,700 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Datadog by 2.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares in the last quarter. Hedge funds and other institutional investors own 78.29% 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.