Datadog (NASDAQ:DDOG – Get Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.38 to $0.40 for the period, compared to the consensus earnings per share estimate of $0.38. The company issued revenue guidance of $660 million to $664 million, compared to the consensus revenue estimate of $664.58 million. Datadog also updated its FY 2024 guidance to 1.620-1.660 EPS.
Wall Street Analyst Weigh In
DDOG has been the subject of several research reports. Evercore ISI initiated coverage on Datadog in a research note on Monday, July 15th. They set an outperform rating and a $150.00 target price for the company. BMO Capital Markets reduced their price objective on shares of Datadog from $140.00 to $132.00 and set an outperform rating for the company in a research report on Friday. Barclays dropped their target price on shares of Datadog from $145.00 to $140.00 and set an overweight rating on the stock in a report on Friday. BTIG Research raised shares of Datadog from a neutral rating to a buy rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Finally, Wedbush restated an outperform rating and issued a $155.00 price target on shares of Datadog in a research report on Friday. Four 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’s stock. According to data from MarketBeat, Datadog presently has an average rating of Moderate Buy and an average price target of $138.93.
Get Our Latest Stock Report on Datadog
Datadog Stock Performance
Insider Buying and Selling
In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Amit Agarwal sold 11,387 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $109.45, for a total transaction of $1,246,307.15. Following the completion of the transaction, the president now directly owns 282,694 shares of the company’s stock, valued at approximately $30,940,858.30. The disclosure for this sale can be found here. Insiders have sold a total of 857,306 shares of company stock valued at $101,950,263 over the last three months. 11.78% of the stock is 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.
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