Datadog (NASDAQ:DDOG) Updates FY 2022 Earnings Guidance

Datadog (NASDAQ:DDOGGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.74-$0.81 for the period, compared to the consensus earnings per share estimate of $0.75. The company issued revenue guidance of $1.61 billion-$1.63 billion, compared to the consensus revenue estimate of $1.62 billion. Datadog also updated its FY22 guidance to $0.74 to $0.81 EPS.

Datadog Stock Performance

DDOG stock traded down $1.93 during mid-day trading on Thursday, reaching $110.49. 13,678,754 shares of the stock traded hands, compared to its average volume of 5,105,300. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.66. Datadog has a 52 week low of $81.12 and a 52 week high of $199.68. The business has a 50-day moving average of $98.51 and a two-hundred day moving average of $121.80. The firm has a market capitalization of $34.81 billion, a PE ratio of -11,049,000.00 and a beta of 1.15.

Datadog (NASDAQ:DDOGGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.10. The firm had revenue of $363.03 million during the quarter, compared to analyst estimates of $337.81 million. Datadog had a net margin of 0.17% and a return on equity of 1.53%. The company’s quarterly revenue was up 82.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, equities analysts predict that Datadog will post -0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DDOG has been the subject of several recent analyst reports. Canaccord Genuity Group initiated coverage on Datadog in a report on Thursday, July 7th. They issued a hold rating and a $120.00 price target for the company. Monness Crespi & Hardt downgraded Datadog from a buy rating to a neutral rating in a report on Thursday. The Goldman Sachs Group reduced their price target on Datadog from $250.00 to $223.00 and set a buy rating for the company in a research report on Thursday, April 14th. Morgan Stanley cut their price objective on Datadog from $159.00 to $155.00 and set an overweight rating for the company in a research report on Monday, July 11th. Finally, Sanford C. Bernstein assumed coverage on Datadog in a report on Tuesday, July 19th. They set an outperform rating and a $172.00 price target for the company. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $168.05.

Insider Buying and Selling

In related news, insider Amit Agarwal sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $102.68, for a total value of $256,700.00. Following the completion of the transaction, the insider now directly owns 192,840 shares of the company’s stock, valued at approximately $19,800,811.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Datadog news, Director Julie Richardson sold 3,906 shares of the firm’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $88.51, for a total value of $345,720.06. Following the completion of the transaction, the director now directly owns 3,932 shares of the company’s stock, valued at approximately $348,021.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Amit Agarwal sold 2,500 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $102.68, for a total transaction of $256,700.00. Following the completion of the transaction, the insider now directly owns 192,840 shares of the company’s stock, valued at $19,800,811.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,707 shares of company stock valued at $12,415,642. Company insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its position in Datadog by 3.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,791 shares of the company’s stock worth $877,000 after purchasing an additional 172 shares during the period. Wetherby Asset Management Inc. raised its position in Datadog by 16.2% in the 1st quarter. Wetherby Asset Management Inc. now owns 1,464 shares of the company’s stock worth $222,000 after purchasing an additional 204 shares during the period. Yousif Capital Management LLC raised its position in Datadog by 9.3% in the 1st quarter. Yousif Capital Management LLC now owns 3,631 shares of the company’s stock worth $550,000 after purchasing an additional 310 shares during the period. PNC Financial Services Group Inc. raised its position in Datadog by 25.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,718 shares of the company’s stock worth $412,000 after purchasing an additional 558 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Datadog by 71.7% in the 1st quarter. Captrust Financial Advisors now owns 1,921 shares of the company’s stock worth $291,000 after acquiring an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 65.17% of the company’s stock.

About Datadog

(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.

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