The latest trading session saw Datadog (DDOG - Free Report) ending at $119.91, denoting a -0.15% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.87%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.11%.
Shares of the data analytics and cloud monitoring company witnessed a loss of 2.38% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.98% and the S&P 500's loss of 3.97%.
Market participants will be closely following the financial results of Datadog in its upcoming release. The company plans to announce its earnings on May 7, 2024. In that report, analysts expect Datadog to post earnings of $0.34 per share. This would mark year-over-year growth of 21.43%. In the meantime, our current consensus estimate forecasts the revenue to be $590.1 million, indicating a 22.5% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.42 per share and revenue of $2.57 billion, which would represent changes of +7.58% and +20.73%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Datadog. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Datadog possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Datadog is presently being traded at a Forward P/E ratio of 84.78. This denotes a premium relative to the industry's average Forward P/E of 27.89.
Investors should also note that DDOG has a PEG ratio of 9.93 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.75.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 54, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
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The latest trading session saw Datadog (DDOG - Free Report) ending at $119.91, denoting a -0.15% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.87%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.11%.
Shares of the data analytics and cloud monitoring company witnessed a loss of 2.38% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.98% and the S&P 500's loss of 3.97%.
Market participants will be closely following the financial results of Datadog in its upcoming release. The company plans to announce its earnings on May 7, 2024. In that report, analysts expect Datadog to post earnings of $0.34 per share. This would mark year-over-year growth of 21.43%. In the meantime, our current consensus estimate forecasts the revenue to be $590.1 million, indicating a 22.5% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.42 per share and revenue of $2.57 billion, which would represent changes of +7.58% and +20.73%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Datadog. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Datadog possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Datadog is presently being traded at a Forward P/E ratio of 84.78. This denotes a premium relative to the industry's average Forward P/E of 27.89.
Investors should also note that DDOG has a PEG ratio of 9.93 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.75.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 54, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Get the latest research report on DDOG - FREE