Datadog (NASDAQ:DDOG) Updates FY22 Earnings Guidance

Datadog (NASDAQ:DDOGGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $0.74 to $0.81 for the period, compared to the consensus EPS estimate of $0.76. The company issued revenue guidance of $1.61 billion to $1.63 billion, compared to the consensus revenue estimate of $1.62 billion. Datadog also updated its FY 2022 guidance to $0.74-$0.81 EPS.

Datadog Price Performance

Shares of DDOG stock traded up $2.80 during trading hours on Friday, hitting $113.29. 6,396,046 shares of the company’s stock were exchanged, compared to its average volume of 5,201,618. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.66. Datadog has a 12-month low of $81.12 and a 12-month high of $199.68. The business’s 50 day simple moving average is $98.82 and its 200-day simple moving average is $121.67. The company has a market capitalization of $35.69 billion, a PE ratio of 11,340.34 and a beta of 1.15.

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

Wall Street Analyst Weigh In

DDOG has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on shares of Datadog from $115.00 to $125.00 in a research note on Friday. Truist Financial reduced their target price on shares of Datadog from $200.00 to $170.00 in a report on Friday, May 6th. Mizuho reduced their target price on shares of Datadog from $150.00 to $130.00 and set a buy rating for the company in a report on Friday. Needham & Company LLC dropped their price target on Datadog from $145.00 to $135.00 and set a buy rating for the company in a research note on Friday. Finally, Rosenblatt Securities lowered their target price on Datadog from $180.00 to $146.00 and set a buy rating for the company in a research report on Friday, July 29th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $154.20.

Insiders Place Their Bets

In other Datadog news, COO Adam Blitzer sold 25,416 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 216,510 shares in the company, valued at approximately $22,131,652.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Datadog news, CEO Olivier Pomel sold 12,667 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $102.22, for a total transaction of $1,294,820.74. Following the completion of the sale, the chief executive officer now directly owns 269,848 shares of the company’s stock, valued at approximately $27,583,862.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Blitzer sold 25,416 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 216,510 shares of the company’s stock, valued at $22,131,652.20. The disclosure for this sale can be found here. Insiders have sold a total of 148,650 shares of company stock worth $15,336,520 in the last quarter. 15.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Datadog

A number of large investors have recently modified their holdings of DDOG. Arrowstreet Capital Limited Partnership raised its stake in shares of 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. Durable Capital Partners LP increased its stake in Datadog by 32.3% in the 1st quarter. Durable Capital Partners LP now owns 2,533,510 shares of the company’s stock valued at $383,751,000 after purchasing an additional 619,202 shares in the last quarter. Vanguard Group Inc. increased its stake in Datadog by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 22,492,050 shares of the company’s stock valued at $3,406,871,000 after purchasing an additional 322,533 shares in the last quarter. AlpInvest Partners B.V. increased its stake in Datadog by 134.5% in the 1st quarter. AlpInvest Partners B.V. now owns 383,043 shares of the company’s stock valued at $58,020,000 after purchasing an additional 219,677 shares in the last quarter. Finally, Mariner LLC purchased a new position in Datadog in the 1st quarter valued at approximately $31,368,000. 65.17% of the stock is owned by hedge funds and other institutional investors.

About Datadog

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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.

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