Scotiabank Predicts Datadog’s FY2024 Earnings (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) – Research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Datadog in a report released on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the company will post earnings of $0.62 per share for the year. Scotiabank has a “Sector Outperform” rating and a $133.00 price objective on the stock. The consensus estimate for Datadog’s current full-year earnings is $0.52 per share. Scotiabank also issued estimates for Datadog’s FY2025 earnings at $0.49 EPS.

Several other analysts also recently issued reports on the company. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 7th. DA Davidson upped their price objective on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BNP Paribas began coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective on the stock. BMO Capital Markets upped their target price on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and dropped their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.46.

Datadog Stock Up 0.8 %

Shares of NASDAQ:DDOG opened at $139.16 on Monday. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08. The stock’s fifty day simple moving average is $145.36 and its 200-day simple moving average is $128.42. The company has a market capitalization of $47.28 billion, a P/E ratio of 262.57, a P/E/G ratio of 19.82 and a beta of 1.14.

Institutional Investors Weigh In On Datadog

A number of hedge funds have recently bought and sold shares of the business. Pathstone Holdings LLC grew its position in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after acquiring an additional 92 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Datadog by 3.5% in the 2nd quarter. Parallel Advisors LLC now owns 3,076 shares of the company’s stock worth $399,000 after acquiring an additional 105 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Finally, Hudock Inc. grew its position in shares of Datadog by 3.3% in the 3rd quarter. Hudock Inc. now owns 3,596 shares of the company’s stock worth $414,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $126.03, for a total value of $18,904,500.00. Following the sale, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,763 shares of company stock worth $87,543,649 in the last 90 days. 11.78% of the stock is owned by corporate insiders.

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.