Scotiabank Forecasts Datadog's FY2024 Earnings (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG - Free Report) - Scotiabank issued their FY2024 earnings estimates for shares of Datadog in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the company will post earnings of $0.62 per share for the year. Scotiabank has a "Sector Outperform" rating and a $133.00 price objective on the stock. The consensus estimate for Datadog's current full-year earnings is $0.52 per share. Scotiabank also issued estimates for Datadog's FY2025 earnings at $0.49 EPS.

Several other research firms have also recently issued reports on DDOG. Wedbush raised Datadog from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 17th. Mizuho raised their price objective on Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Monness Crespi & Hardt raised shares of Datadog from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. BMO Capital Markets lifted their price target on shares of Datadog from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus boosted their price target on shares of Datadog from $141.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and an average target price of $157.46.

Datadog Stock Performance

DDOG stock opened at $140.42 on Monday. Datadog has a one year low of $98.80 and a one year high of $170.08. The firm has a market cap of $47.70 billion, a PE ratio of 264.95, a PEG ratio of 19.82 and a beta of 1.11. The firm's 50 day moving average price is $144.83 and its 200-day moving average price is $128.29.

Institutional Trading of Datadog

A number of large investors have recently made changes to their positions in DDOG. Pathstone Holdings LLC lifted its stake in Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company's stock valued at $2,664,000 after buying an additional 91 shares during the last quarter. GAMMA Investing LLC raised its position in Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company's stock valued at $65,000 after purchasing an additional 92 shares during the last quarter. Parallel Advisors LLC boosted its stake in Datadog by 3.5% during the 2nd quarter. Parallel Advisors LLC now owns 3,076 shares of the company's stock worth $399,000 after purchasing an additional 105 shares during the period. Meeder Asset Management Inc. grew its position in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Finally, Hudock Inc. increased its stake in Datadog by 3.3% in the third quarter. Hudock Inc. now owns 3,596 shares of the company's stock valued at $414,000 after purchasing an additional 116 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Datadog

In related news, Director Matthew Jacobson sold 3,393 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the sale, the director now directly owns 695,086 shares of the company's stock, valued at $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 465,574 shares of company stock valued at $67,069,872 over the last quarter. 11.78% of the stock is owned by insiders.

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.