What is Wedbush’s Estimate for Datadog Q3 Earnings?

Datadog, Inc. (NASDAQ:DDOG) – Analysts at Wedbush issued their Q3 2024 earnings per share (EPS) estimates for shares of Datadog in a report released 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 restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Evercore ISI began coverage on Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target for the company. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. BNP Paribas began coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target for the company. Finally, BMO Capital Markets decreased their price target on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.43.

Datadog Stock Performance

Shares of DDOG stock opened at $124.62 on Monday. The firm has a market cap of $41.69 billion, a P/E ratio of 389.44, a P/E/G ratio of 22.85 and a beta of 1.11. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The business’s 50 day moving average price is $117.06 and its 200-day moving average price is $119.44.

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

Hedge Funds Weigh In On Datadog

Large investors have recently bought and sold shares of the business. Congress Asset Management Co. MA acquired a new position in Datadog in the 1st quarter worth about $1,083,000. Vanguard Group Inc. increased its stake in Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after buying an additional 171,693 shares in the last quarter. Bank of Montreal Can increased its stake in Datadog by 129.2% during the 2nd 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. Plato Investment Management Ltd increased its stake in Datadog by 1,648.8% during the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock worth $638,000 after buying an additional 4,864 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Datadog by 5.2% during the 2nd quarter. Clearbridge Investments LLC now owns 259,107 shares of the company’s stock worth $33,604,000 after buying an additional 12,785 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 news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the transaction, the chief executive officer now owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shardul Shah sold 15,832 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 529,928 shares of company stock worth $63,079,091. 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.