What is Wedbush’s Estimate for Datadog Q3 Earnings?

Datadog, Inc. (NASDAQ:DDOG) – Equities research analysts at Wedbush issued their Q3 2024 earnings per share (EPS) estimates for Datadog in a research report issued to clients and investors on Thursday, October 17th. Wedbush analyst D. Ives forecasts that the company will earn $0.07 per share 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.

A number of other research firms have also recently weighed in on DDOG. Scotiabank cut their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Barclays cut their price target on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets cut their price target on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, BNP Paribas initiated coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $142.43.

Datadog Trading Down 0.9 %

Shares of NASDAQ DDOG opened at $124.62 on Monday. The stock has a market cap of $41.69 billion, a P/E ratio of 389.44, a PEG ratio of 22.85 and a beta of 1.11. Datadog has a 12-month low of $77.81 and a 12-month high of $138.61. The business’s fifty day simple moving average is $117.06 and its 200-day simple moving average is $119.44.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business 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%. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new position in Datadog in the 1st quarter worth approximately $26,000. SouthState Corp purchased a new position in Datadog in the 2nd quarter worth approximately $26,000. Blue Trust Inc. purchased a new position in Datadog in the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC boosted its holdings in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares during the period. Finally, American National Bank & Trust purchased a new position in Datadog in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on 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 directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog 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 sale, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. 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 through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 529,928 shares of company stock worth $63,079,091 in the last ninety days. Insiders own 11.78% of the company’s stock.

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.