Datadog (NASDAQ:DDOG) Issues Q3 Earnings Guidance

Datadog (NASDAQ:DDOGGet Rating) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.15 to $0.17 for the period, compared to the consensus EPS estimate of $0.16. The company issued revenue guidance of $410 million to $414 million, compared to the consensus revenue estimate of $410.12 million. Datadog also updated its FY 2022 guidance to $0.74-$0.81 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DDOG. Needham & Company LLC cut their price target on Datadog from $145.00 to $135.00 and set a buy rating on the stock in a report on Friday. Canaccord Genuity Group began coverage on Datadog in a report on Thursday, July 7th. They issued a hold rating and a $120.00 price target on the stock. Mizuho cut their price target on Datadog from $150.00 to $130.00 and set a buy rating on the stock in a report on Friday. Jefferies Financial Group cut their price target on Datadog from $170.00 to $125.00 in a report on Monday, May 23rd. Finally, The Goldman Sachs Group cut their price target on Datadog from $250.00 to $223.00 and set a buy rating on the stock in a report on Thursday, April 14th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Datadog currently has an average rating of Moderate Buy and a consensus target price of $154.20.

Datadog Stock Up 2.5 %

Shares of DDOG stock traded up $2.80 on Friday, reaching $113.29. 6,396,046 shares of the company’s stock traded hands, compared to its average volume of 5,201,618. Datadog has a 12-month low of $81.12 and a 12-month high of $199.68. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.33 and a current ratio of 3.33. The company has a market capitalization of $35.69 billion, a P/E ratio of 11,340.34 and a beta of 1.15. The business’s 50 day moving average price is $98.82 and its two-hundred day moving average price is $121.67.

Datadog (NASDAQ:DDOGGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Datadog had a return on equity of 2.34% and a net margin of 0.48%. The business had revenue of $406.14 million for the quarter, compared to the consensus estimate of $381.28 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Datadog’s revenue for the quarter was up 73.9% compared to the same quarter last year. On average, equities analysts forecast that Datadog will post -0.14 earnings per share for the current year.

Insider Activity at Datadog

In related news, COO Adam Blitzer sold 25,416 shares of Datadog stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $102.22, for a total transaction of $2,598,023.52. Following the completion of the sale, the chief operating officer now owns 216,510 shares of the company’s stock, valued at $22,131,652.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Datadog news, CFO David M. Obstler sold 9,693 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $115.38, for a total value of $1,118,378.34. Following the completion of the sale, the chief financial officer now owns 209,810 shares of the company’s stock, valued at $24,207,877.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Adam Blitzer sold 25,416 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $102.22, for a total value of $2,598,023.52. Following the completion of the sale, the chief operating officer now directly owns 216,510 shares of the company’s stock, valued at approximately $22,131,652.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,650 shares of company stock valued at $15,336,520. Insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Vanguard Group Inc. grew its position in Datadog by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 22,492,050 shares of the company’s stock worth $3,406,871,000 after acquiring an additional 322,533 shares during the last quarter. Durable Capital Partners LP lifted its holdings in Datadog by 32.3% during the 1st quarter. Durable Capital Partners LP now owns 2,533,510 shares of the company’s stock worth $383,751,000 after buying an additional 619,202 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Datadog by 104.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company’s stock worth $315,783,000 after buying an additional 1,066,716 shares in the last quarter. Northern Trust Corp lifted its holdings in Datadog by 4.8% during the 1st quarter. Northern Trust Corp now owns 1,558,312 shares of the company’s stock worth $236,037,000 after buying an additional 71,722 shares in the last quarter. Finally, Jasper Ridge Partners L.P. lifted its holdings in Datadog by 13.0% during the 1st quarter. Jasper Ridge Partners L.P. now owns 1,355,689 shares of the company’s stock worth $205,346,000 after buying an additional 155,743 shares in the last quarter. 65.17% of the stock is currently owned by institutional investors.

About Datadog

(Get Rating)

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

Featured Articles

Receive News & Ratings for Datadog Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Datadog and related companies with MarketBeat.com's FREE daily email newsletter.