Datadog (NASDAQ:DDOG) Issues FY 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.620-1.660 for the period, compared to the consensus earnings per share estimate of 1.580. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.6 billion. Datadog also updated its FY24 guidance to $1.62 to $1.66 EPS.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wedbush reiterated an outperform rating and issued a $155.00 target price on shares of Datadog in a research report on Friday. Evercore ISI assumed coverage on Datadog in a research report on Monday, July 15th. They issued an outperform rating and a $150.00 target price on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Monness Crespi & Hardt upgraded Datadog from a sell rating to a neutral rating in a research report on Wednesday. Finally, Wells Fargo & Company upgraded Datadog from an equal weight rating to an overweight rating and lifted their target price for the company from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $138.93.

Datadog Stock Performance

Shares of DDOG stock traded down $1.78 on Friday, hitting $112.28. 4,515,414 shares of the stock were exchanged, compared to its average volume of 4,125,572. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $37.56 billion, a PE ratio of 350.88, a P/E/G ratio of 37.24 and a beta of 1.11. Datadog has a one year low of $77.81 and a one year high of $138.61. The firm’s 50 day moving average is $119.38 and its two-hundred day moving average is $122.98.

Insider Buying and Selling

In related news, insider Madre Armelle De sold 300 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $125.00, for a total transaction of $37,500.00. Following the sale, the insider now owns 99,965 shares of the company’s stock, valued at approximately $12,495,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Datadog news, insider Madre Armelle De sold 300 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $125.00, for a total value of $37,500.00. Following the sale, the insider now owns 99,965 shares of the company’s stock, valued at approximately $12,495,625. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 857,306 shares of company stock valued at $101,950,263. Corporate 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.