Datadog (NASDAQ:DDOG) Releases Q4 2024 Earnings Guidance

Datadog (NASDAQ:DDOG) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.420-0.440 for the period, compared to the consensus earnings per share estimate of 0.390. The company issued revenue guidance of $709.0 million-$713.0 million, compared to the consensus revenue estimate of $710.4 million. Datadog also updated its FY 2024 guidance to 1.750-1.770 EPS.

Datadog Stock Performance

Shares of DDOG traded down $0.35 during trading hours on Thursday, hitting $128.00. The stock had a trading volume of 3,241,995 shares, compared to its average volume of 3,762,764. The firm has a 50-day moving average price of $119.21 and a 200 day moving average price of $119.49. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The firm has a market capitalization of $43.16 billion, a price-to-earnings ratio of 295.45, a PEG ratio of 22.93 and a beta of 1.10.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. As a group, analysts predict that Datadog will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on DDOG. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Sanford C. Bernstein reduced their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Barclays reduced their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.54.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the sale, the chief executive officer now owns 392,111 shares of the company’s stock, valued at $48,076,729.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the sale, the chief executive officer now owns 392,111 shares in the company, valued at $48,076,729.71. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,291 shares of company stock worth $54,154,859. Corporate insiders own 11.78% of the company’s stock.

About Datadog

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.