What is Scotiabank’s Estimate for Datadog FY2024 Earnings?

Datadog, Inc. (NASDAQ:DDOG) – Equities researchers at Scotiabank issued their FY2024 earnings per share estimates for Datadog in a research note issued 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.

Several other research firms also recently commented on DDOG. Truist Financial downgraded shares of Datadog from a “buy” rating to a “hold” rating and lowered their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 7th. Barclays lifted their price target on shares of Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. DA Davidson boosted their target price on shares of Datadog from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. Finally, Rosenblatt Securities raised their price objective on shares of Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, two have assigned 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 presently has an average rating of “Moderate Buy” and a consensus price target of $157.46.

Datadog Stock Performance

DDOG stock opened at $138.00 on Monday. The firm has a 50 day simple moving average of $145.08 and a 200 day simple moving average of $128.36. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market cap of $46.88 billion, a P/E ratio of 260.38, a P/E/G ratio of 19.82 and a beta of 1.14.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in Datadog in the 4th quarter valued at about $192,000. Pallas Capital Advisors LLC raised its position in Datadog by 26.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,834 shares of the company’s stock valued at $405,000 after purchasing an additional 594 shares in the last quarter. Friedenthal Financial bought a new stake in Datadog during the fourth quarter worth $54,000. Cooper Financial Group increased its stake in shares of Datadog by 10.5% in the 4th quarter. Cooper Financial Group now owns 1,996 shares of the company’s stock valued at $285,000 after purchasing an additional 189 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Datadog by 8.3% during the 4th quarter. Wedmont Private Capital now owns 2,149 shares of the company’s stock worth $302,000 after buying an additional 164 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Datadog

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the sale, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the sale, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 609,763 shares of company stock valued at $87,543,649. 11.78% of the stock is 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.