Datadog (NASDAQ:DDOG) Updates Q3 Earnings Guidance

Datadog (NASDAQ:DDOG – Get Rating) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.15 to $0.17 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several equities analysts have issued reports on DDOG shares. Barclays cut their price objective on Datadog from $150.00 to $130.00 and set an overweight rating for the company in a research report on Friday. Raymond James cut their price objective on Datadog from $170.00 to $140.00 and set an outperform rating for the company in a research report on Friday. Needham & Company LLC cut their price objective on Datadog from $145.00 to $135.00 and set a buy rating for the company in a research report on Friday. Sanford C. Bernstein started coverage on Datadog in a research note on Tuesday, July 19th. They issued an outperform rating and a $172.00 target price for the company. Finally, Canaccord Genuity Group started coverage on Datadog in a research note 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 issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $154.20.

Datadog Price Performance

NASDAQ:DDOG traded up $2.80 during trading hours on Friday, reaching $113.29. 6,396,046 shares of the company were exchanged, compared to its average volume of 5,201,618. The company has a market capitalization of $35.69 billion, a P/E ratio of 11,340.34 and a beta of 1.15. Datadog has a 1-year low of $81.12 and a 1-year high of $199.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.33 and a quick ratio of 3.33. The business has a 50 day moving average of $98.82 and a 200 day moving average of $121.67.

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

Insider Activity

In other news, Director Shardul Shah sold 16,487 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $99.49, for a total value of $1,640,291.63. Following the completion of the transaction, the director now directly owns 440,523 shares in the company, valued at approximately $43,827,633.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Datadog news, insider Madre Armelle De sold 3,750 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $110.00, for a total value of $412,500.00. Following the completion of the sale, the insider now directly owns 67,804 shares of the company’s stock, valued at $7,458,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shardul Shah sold 16,487 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $99.49, for a total transaction of $1,640,291.63. Following the transaction, the director now directly owns 440,523 shares of the company’s stock, valued at $43,827,633.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,650 shares of company stock worth $15,336,520. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DDOG. Beacon Pointe Advisors LLC bought a new stake in shares of Datadog in the 1st quarter valued at about $851,000. Sender Co & Partners Inc. acquired a new position in shares of Datadog in the 1st quarter valued at $700,000. Atria Wealth Solutions Inc. acquired a new position in shares of Datadog in the 1st quarter valued at $585,000. Pearl River Capital LLC acquired a new position in Datadog during the first quarter worth $571,000. Finally, Cetera Investment Advisers raised its position in Datadog by 70.7% during the first quarter. Cetera Investment Advisers now owns 3,642 shares of the company’s stock worth $552,000 after acquiring an additional 1,509 shares during the period. 65.17% of the stock is currently owned by 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.