Datadog (NASDAQ:DDOG) Releases Q3 Earnings Guidance

Datadog (NASDAQ:DDOG) 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.

Datadog Stock Performance

NASDAQ DDOG traded down $1.78 during trading on Friday, hitting $112.28. The company’s stock had a trading volume of 4,515,414 shares, compared to its average volume of 4,125,572. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $37.56 billion, a P/E ratio of 350.88, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The firm has a 50 day moving average price of $119.38 and a 200 day moving average price of $122.98.

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.