FY2024 Earnings Forecast for Datadog Issued By Scotiabank

Datadog, Inc. (NASDAQ:DDOG) – Investment analysts at Scotiabank issued their FY2024 earnings estimates for Datadog in a report released on Wednesday, January 8th. Scotiabank analyst P. Colville forecasts that the company will post earnings of $0.62 per share for the year. Scotiabank currently has a “Sector Outperform” rating and a $133.00 target price 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.

DDOG has been the topic of a number of other research reports. BNP Paribas started coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Robert W. Baird lifted their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Macquarie initiated coverage on shares of Datadog in a research note on Thursday, December 12th. They set an “outperform” rating and a $200.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $157.46.

Datadog Trading Down 1.0 %

Shares of NASDAQ:DDOG opened at $140.42 on Monday. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08. The stock’s 50-day moving average price is $144.83 and its two-hundred day moving average price is $128.29. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 264.95, a PEG ratio of 19.82 and a beta of 1.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Holocene Advisors LP boosted its stake in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after purchasing an additional 739,011 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Datadog in the 3rd quarter worth approximately $52,561,000. Eagle Asset Management Inc. lifted its stake in Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the sale, the director now directly owns 451,533 shares in the company, valued at $57,195,685.11. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 465,574 shares of company stock valued at $67,069,872. 11.78% of the stock is currently owned by insiders.

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.