Datadog (NASDAQ:DDOG) Issues Q4 Earnings Guidance

Datadog (NASDAQ:DDOG - Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.42-0.44 for the period, compared to the consensus EPS estimate of $0.40. The company issued revenue guidance of $709-713 million, compared to the consensus revenue estimate of $711.51 million. Datadog also updated its FY 2024 guidance to 1.750-1.770 EPS.

Datadog Trading Up 1.2 %

DDOG stock traded up $1.52 during trading hours on Thursday, hitting $129.87. 8,112,605 shares of the stock traded hands, compared to its average volume of 3,786,254. The stock has a 50-day simple moving average of $119.21 and a 200 day simple moving average of $119.49. Datadog has a one year low of $98.80 and a one year high of $138.61. The company has a market cap of $43.79 billion, a P/E ratio of 288.61, a P/E/G ratio of 22.93 and a beta of 1.10.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same period in the prior year, the business posted $0.36 earnings per share. Datadog's revenue was up 26.7% compared to the same quarter last year. Analysts forecast that Datadog will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BNP Paribas assumed coverage on Datadog in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $150.00 price objective for the company. Evercore ISI initiated 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. Scotiabank dropped their target price on Datadog from $145.00 to $135.00 and set a "sector outperform" rating on the stock in a research report on Friday, August 9th. Wedbush raised Datadog from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 17th. Finally, BTIG Research raised Datadog from a "neutral" rating to a "buy" rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.57.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the transaction, the chief executive officer now owns 392,111 shares in the company, valued at approximately $48,076,729.71. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares of the company's stock, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the sale, the chief executive officer now directly owns 392,111 shares of the company's stock, valued at $48,076,729.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 444,291 shares of company stock worth $54,154,859. 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.