Datadog (NASDAQ:DDOG) Updates Q3 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.380-0.400 for the period, compared to the consensus earnings per share estimate of 0.370. The company issued revenue guidance of $660.0 million-$664.0 million, compared to the consensus revenue estimate of $664.2 million. Datadog also updated its FY 2024 guidance to 1.620-1.660 EPS.

Datadog Stock Performance

DDOG stock traded down $1.78 during mid-day trading on Friday, hitting $112.28. The company had a trading volume of 4,515,414 shares, compared to its average volume of 4,125,572. The firm has a market cap of $37.56 billion, a PE ratio of 350.88, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61. The stock’s fifty day moving average price is $119.38 and its two-hundred day moving average price is $123.02.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The company had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. On average, analysts forecast that Datadog will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DDOG has been the topic of several research reports. Scotiabank lowered their price target on shares of Datadog from $145.00 to $135.00 and set a sector outperform rating on the stock in a research report on Friday. Stifel Nicolaus reissued a buy rating and issued a $152.00 price target on shares of Datadog in a research report on Monday, April 22nd. Wells Fargo & Company raised shares of Datadog from an equal weight rating to an overweight rating and boosted their price objective for the company from $130.00 to $150.00 in a research note on Tuesday, April 23rd. Evercore ISI started coverage on shares of Datadog in a research note on Monday, July 15th. They set an outperform rating and a $150.00 price objective for the company. Finally, 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 note on Friday. Four equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog has an average rating of Moderate Buy and an average target price of $138.93.

Insider Transactions at Datadog

In other news, insider Madre Armelle De sold 300 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $125.00, for a total value of $37,500.00. Following the completion of the sale, the insider now directly owns 99,965 shares in the company, valued at approximately $12,495,625. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Madre Armelle De sold 300 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $125.00, for a total transaction of $37,500.00. Following the completion of the transaction, the insider now owns 99,965 shares of the company’s stock, valued at $12,495,625. The disclosure for this sale can be found here. In the last ninety days, insiders sold 857,306 shares of company stock worth $101,950,263. 11.78% of the stock is currently owned by 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.