Wedbush Predicts Datadog’s Q3 Earnings (NASDAQ:DDOG)

Datadog, Inc. (NASDAQ:DDOG) – Stock analysts at Wedbush issued their Q3 2024 earnings estimates for Datadog in a research report issued to clients and investors on Thursday, October 17th. Wedbush analyst D. Ives anticipates that the company will post earnings per share of $0.07 for the quarter. Wedbush currently has a “Strong-Buy” rating on the stock. The consensus estimate for Datadog’s current full-year earnings is $0.42 per share. Wedbush also issued estimates for Datadog’s Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.38 EPS, Q1 2025 earnings at $0.09 EPS, Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.12 EPS, Q4 2025 earnings at $0.13 EPS and FY2025 earnings at $0.45 EPS.

DDOG has been the topic of several other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. BMO Capital Markets reduced their price objective on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Thursday, August 1st. Loop Capital restated a “buy” rating and set a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. Finally, BNP Paribas began coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.43.

Datadog Trading Down 1.8 %

Shares of Datadog stock opened at $125.81 on Monday. The company has a market cap of $42.08 billion, a P/E ratio of 393.16, a PEG ratio of 22.85 and a beta of 1.11. The business has a 50-day moving average price of $116.86 and a two-hundred day moving average price of $119.44. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm’s revenue was up 26.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in DDOG. Foundations Investment Advisors LLC boosted its holdings in shares of Datadog by 14.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 5,411 shares of the company’s stock valued at $623,000 after purchasing an additional 702 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Datadog by 80.5% during the 3rd quarter. Raleigh Capital Management Inc. now owns 426 shares of the company’s stock worth $49,000 after acquiring an additional 190 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Datadog by 3.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 19,530 shares of the company’s stock valued at $2,247,000 after purchasing an additional 682 shares in the last quarter. Whittier Trust Co. raised its stake in Datadog by 3.6% during the third quarter. Whittier Trust Co. now owns 55,281 shares of the company’s stock valued at $6,360,000 after purchasing an additional 1,921 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Datadog by 80.3% during the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock valued at $62,000 after purchasing an additional 240 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the transaction, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 529,928 shares of company stock valued at $63,079,091 in the last 90 days. 11.78% of the stock is currently owned by 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.