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Datadog (DDOG) Falls More Steeply Than Broader Market: What Investors Need to Know
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The most recent trading session ended with Datadog (DDOG - Free Report) standing at $85.68, reflecting a -0.46% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.17%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq added 0.27%.
The the stock of data analytics and cloud monitoring company has fallen by 3.02% in the past month, lagging the Computer and Technology sector's loss of 2.16% and overreaching the S&P 500's loss of 3.95%.
The upcoming earnings release of Datadog will be of great interest to investors. The company's earnings report is expected on November 7, 2023. The company is predicted to post an EPS of $0.34, indicating a 47.83% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $523.3 million, showing a 19.88% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.32 per share and a revenue of $2.06 billion, representing changes of +34.69% and +22.75%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Datadog. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Datadog currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Datadog is holding a Forward P/E ratio of 65.39. This expresses a premium compared to the average Forward P/E of 35.87 of its industry.
We can additionally observe that DDOG currently boasts a PEG ratio of 2.97. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry had an average PEG ratio of 1.43 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Datadog (DDOG) Falls More Steeply Than Broader Market: What Investors Need to Know
The most recent trading session ended with Datadog (DDOG - Free Report) standing at $85.68, reflecting a -0.46% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.17%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq added 0.27%.
The the stock of data analytics and cloud monitoring company has fallen by 3.02% in the past month, lagging the Computer and Technology sector's loss of 2.16% and overreaching the S&P 500's loss of 3.95%.
The upcoming earnings release of Datadog will be of great interest to investors. The company's earnings report is expected on November 7, 2023. The company is predicted to post an EPS of $0.34, indicating a 47.83% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $523.3 million, showing a 19.88% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.32 per share and a revenue of $2.06 billion, representing changes of +34.69% and +22.75%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Datadog. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Datadog currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Datadog is holding a Forward P/E ratio of 65.39. This expresses a premium compared to the average Forward P/E of 35.87 of its industry.
We can additionally observe that DDOG currently boasts a PEG ratio of 2.97. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry had an average PEG ratio of 1.43 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.