Datadog (NASDAQ:DDOG) Releases FY22 Earnings Guidance

Datadog (NASDAQ:DDOGGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.74 to $0.81 for the period, compared to the consensus earnings per share 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

DDOG traded up $2.80 during trading on Friday, reaching $113.29. The company’s stock had a trading volume of 6,396,046 shares, compared to its average volume of 5,201,618. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $98.82 and a two-hundred day simple moving average of $121.67. Datadog has a 1 year low of $81.12 and a 1 year high of $199.68. The company has a market cap of $35.69 billion, a price-to-earnings ratio of 11,340.34 and a beta of 1.15.

Datadog (NASDAQ:DDOGGet Rating) last posted its 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 firm had revenue of $406.14 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. As a group, analysts anticipate that Datadog will post -0.14 EPS for the current year.

Analyst Ratings Changes

DDOG has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Datadog from $200.00 to $170.00 in a research report on Friday, May 6th. Sanford C. Bernstein initiated coverage on shares of Datadog in a research report on Tuesday, July 19th. They issued an outperform rating and a $172.00 price target for the company. Morgan Stanley reduced their price target on shares of Datadog from $159.00 to $155.00 and set an overweight rating for the company in a research report on Monday, July 11th. KeyCorp reduced their target price on shares of Datadog from $132.00 to $127.00 and set an overweight rating for the company in a report on Friday. Finally, Canaccord Genuity Group started coverage on shares of Datadog in a report on Thursday, July 7th. They issued a hold rating and a $120.00 target price for the company. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Datadog presently has an average rating of Moderate Buy and an average price target of $154.20.

Insiders Place Their Bets

In other Datadog news, CFO David M. Obstler sold 9,693 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $115.38, for a total transaction of $1,118,378.34. Following the transaction, the chief financial officer now owns 209,810 shares of the company’s stock, valued at $24,207,877.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Madre Armelle De sold 1,875 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $90.00, for a total value of $168,750.00. Following the transaction, the insider now directly owns 70,237 shares in the company, valued at approximately $6,321,330. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David M. Obstler sold 9,693 shares of Datadog stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $115.38, for a total transaction of $1,118,378.34. Following the completion of the sale, the chief financial officer now owns 209,810 shares in the company, valued at $24,207,877.80. The disclosure for this sale can be found here. Insiders have sold a total of 148,650 shares of company stock valued at $15,336,520 over the last quarter. Company insiders own 15.80% of the company’s stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its stake in Datadog by 104.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company’s stock valued at $315,783,000 after acquiring an additional 1,066,716 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of Datadog by 32.3% in the 1st quarter. Durable Capital Partners LP now owns 2,533,510 shares of the company’s stock worth $383,751,000 after purchasing an additional 619,202 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Datadog by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 22,492,050 shares of the company’s stock worth $3,406,871,000 after purchasing an additional 322,533 shares during the last quarter. AlpInvest Partners B.V. grew its holdings in shares of Datadog by 134.5% in the 1st quarter. AlpInvest Partners B.V. now owns 383,043 shares of the company’s stock worth $58,020,000 after purchasing an additional 219,677 shares during the last quarter. Finally, Mariner LLC bought a new stake in shares of Datadog in the 1st quarter worth about $31,368,000. 65.17% of the stock is currently owned by institutional investors.

Datadog Company Profile

(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.

Further Reading

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