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Why the Market Dipped But Datadog (DDOG) Gained Today
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In the latest market close, Datadog (DDOG - Free Report) reached $123.21, with a +1.64% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.16%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Coming into today, shares of the data analytics and cloud monitoring company had gained 2.3% in the past month. In that same time, the Computer and Technology sector gained 0.47%, while the S&P 500 gained 1.96%.
Analysts and investors alike will be keeping a close eye on the performance of Datadog in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. The company is forecasted to report an EPS of $0.35, showcasing a 2.78% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $622.74 million, indicating a 22.23% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.54 per share and revenue of $2.6 billion, which would represent changes of +16.67% and +22.26%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Datadog. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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. Datadog is holding a Zacks Rank of #1 (Strong Buy) right now.
With respect to valuation, Datadog is currently being traded at a Forward P/E ratio of 78.53. For comparison, its industry has an average Forward P/E of 30.41, which means Datadog is trading at a premium to the group.
Investors should also note that DDOG has a PEG ratio of 8.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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Why the Market Dipped But Datadog (DDOG) Gained Today
In the latest market close, Datadog (DDOG - Free Report) reached $123.21, with a +1.64% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.16%. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Coming into today, shares of the data analytics and cloud monitoring company had gained 2.3% in the past month. In that same time, the Computer and Technology sector gained 0.47%, while the S&P 500 gained 1.96%.
Analysts and investors alike will be keeping a close eye on the performance of Datadog in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. The company is forecasted to report an EPS of $0.35, showcasing a 2.78% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $622.74 million, indicating a 22.23% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.54 per share and revenue of $2.6 billion, which would represent changes of +16.67% and +22.26%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Datadog. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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. Datadog is holding a Zacks Rank of #1 (Strong Buy) right now.
With respect to valuation, Datadog is currently being traded at a Forward P/E ratio of 78.53. For comparison, its industry has an average Forward P/E of 30.41, which means Datadog is trading at a premium to the group.
Investors should also note that DDOG has a PEG ratio of 8.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.