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Datadog (DDOG) Stock Falls Amid Market Uptick: What Investors Need to Know
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The most recent trading session ended with Datadog (DDOG - Free Report) standing at $80.42, reflecting a -1.54% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 1.2%. Elsewhere, the Dow gained 1.58%, while the tech-heavy Nasdaq added 1.16%.
Shares of the data analytics and cloud monitoring company have depreciated by 10.33% over the course of the past month, underperforming the Computer and Technology sector's loss of 3.32% and the S&P 500's loss of 3.58%.
The investment community will be paying close attention to the earnings performance of Datadog in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. It is anticipated that the company will report an EPS of $0.34, marking a 47.83% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $523.3 million, indicating a 19.88% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.32 per share and a revenue of $2.06 billion, demonstrating changes of +34.69% and +22.75%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Datadog. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been no change in the Zacks Consensus EPS estimate. At present, Datadog boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Datadog is holding a Forward P/E ratio of 62.05. This valuation marks a premium compared to its industry's average Forward P/E of 35.06.
It's also important to note that DDOG currently trades at a PEG ratio of 2.82. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Internet - Software industry stood at 1.39 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Datadog (DDOG) Stock Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with Datadog (DDOG - Free Report) standing at $80.42, reflecting a -1.54% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 1.2%. Elsewhere, the Dow gained 1.58%, while the tech-heavy Nasdaq added 1.16%.
Shares of the data analytics and cloud monitoring company have depreciated by 10.33% over the course of the past month, underperforming the Computer and Technology sector's loss of 3.32% and the S&P 500's loss of 3.58%.
The investment community will be paying close attention to the earnings performance of Datadog in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. It is anticipated that the company will report an EPS of $0.34, marking a 47.83% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $523.3 million, indicating a 19.88% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.32 per share and a revenue of $2.06 billion, demonstrating changes of +34.69% and +22.75%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Datadog. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, there's been no change in the Zacks Consensus EPS estimate. At present, Datadog boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Datadog is holding a Forward P/E ratio of 62.05. This valuation marks a premium compared to its industry's average Forward P/E of 35.06.
It's also important to note that DDOG currently trades at a PEG ratio of 2.82. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Internet - Software industry stood at 1.39 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.