What is Scotiabank’s Forecast for Datadog FY2024 Earnings?

Datadog, Inc. (NASDAQ:DDOG) – Analysts at Scotiabank issued their FY2024 earnings estimates for shares of Datadog in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Colville anticipates that the company will post earnings per share of $0.62 for the year. Scotiabank has a “Sector Outperform” rating and a $133.00 price target 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 research analysts have also recently weighed in on the stock. Sanford C. Bernstein lowered their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Loop Capital boosted their target price on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. 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 report on Thursday, November 7th. Finally, Jefferies Financial Group increased their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.46.

Datadog Stock Down 1.0 %

Datadog stock opened at $140.42 on Monday. The company has a fifty day simple moving average of $144.83 and a 200-day simple moving average of $128.29. The firm has a market capitalization of $47.70 billion, a price-to-earnings ratio of 264.95, a PEG ratio of 19.82 and a beta of 1.11. Datadog has a 52-week low of $98.80 and a 52-week high of $170.08.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $153.73, for a total transaction of $2,955,612.98. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $58,370,204.89. The trade was a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the 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 completion of the sale, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 465,574 shares of company stock valued at $67,069,872 in the last ninety days. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently bought and sold shares of the business. Choreo LLC acquired a new position in Datadog in the 2nd quarter valued at $536,000. Headlands Technologies LLC purchased a new stake in Datadog in the 2nd quarter valued at approximately $104,000. BOKF NA increased its position in Datadog by 91,080.0% during the 2nd quarter. BOKF NA now owns 4,559 shares of the company’s stock worth $591,000 after purchasing an additional 4,554 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Datadog by 4.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,624 shares of the company’s stock worth $1,767,000 after buying an additional 593 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Datadog by 50.2% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,587 shares of the company’s stock valued at $465,000 after buying an additional 1,199 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.