Datadog (NASDAQ:DDOG) Updates FY24 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.62 to $1.66 for the period, compared to the consensus estimate of $1.61. The company issued revenue guidance of $2.62 billion to $2.63 billion, compared to the consensus revenue estimate of $2.61 billion. Datadog also updated its FY 2024 guidance to 1.620-1.660 EPS.

Analysts Set New Price Targets

A number of research analysts have issued reports on DDOG shares. Cantor Fitzgerald reiterated an overweight rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. UBS Group raised their target price on shares of Datadog from $120.00 to $125.00 and gave the company a neutral rating in a research note on Friday. Baird R W raised shares of Datadog from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Needham & Company LLC decreased their price objective on shares of Datadog from $165.00 to $140.00 and set a buy rating for the company in a report on Friday. Finally, Rosenblatt Securities restated a buy rating and issued a $146.00 target price on shares of Datadog in a research report on Monday, May 6th. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $138.93.

Datadog Stock Down 1.6 %

DDOG stock traded down $1.78 during mid-day trading on Friday, hitting $112.28. The stock had a trading volume of 4,515,414 shares, compared to its average volume of 4,125,572. The stock has a market capitalization of $37.56 billion, a price-to-earnings ratio of 350.88, a PEG ratio of 37.24 and a beta of 1.11. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a fifty day moving average of $119.38 and a 200 day moving average of $122.98.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $35,426,677.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $35,426,677.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Obstler sold 10,745 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $109.45, for a total value of $1,176,040.25. Following the transaction, the chief financial officer now owns 325,028 shares of the company’s stock, valued at $35,574,314.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 857,306 shares of company stock valued at $101,950,263. 11.78% of the stock is currently 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.