Datadog (NASDAQ:DDOG) Releases 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 (EPS) guidance of 0.380-0.400 for the period, compared to the consensus 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 Trading Down 1.6 %

Shares of Datadog stock traded down $1.78 on Friday, hitting $112.28. 4,515,414 shares of the company’s stock traded hands, compared to its average volume of 4,125,572. Datadog has a one year low of $77.81 and a one year high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The company has a fifty day moving average of $119.38 and a two-hundred day moving average of $122.98. The company has a market capitalization of $37.56 billion, a price-to-earnings ratio of 350.88, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of recent research reports. BMO Capital Markets dropped their target price on Datadog from $140.00 to $132.00 and set an outperform rating on the stock in a report on Friday. Robert W. Baird raised Datadog from a neutral rating to an outperform rating and increased their price target for the company from $130.00 to $140.00 in a research report on Wednesday, May 8th. Evercore ISI assumed coverage on Datadog in a research report on Monday, July 15th. They set an outperform rating and a $150.00 price target for the company. Stifel Nicolaus reaffirmed a buy rating and set a $152.00 price target on shares of Datadog in a research report on Monday, April 22nd. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $146.00 price target on shares of Datadog in a research report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $138.93.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction dated Monday, July 8th. The stock was 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 owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $118.52, for a total value of $15,064,484.60. Following the transaction, the chief technology officer now owns 290,412 shares in the company, valued at $34,419,630.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 857,306 shares of company stock valued at $101,950,263. Company insiders own 11.78% of the company’s stock.

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.