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Datadog (DDOG) Stock Falls Amid Market Uptick: What Investors Need to Know
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Datadog (DDOG - Free Report) closed at $117.92 in the latest trading session, marking a -0.33% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, added 0.07%.
Heading into today, shares of the data analytics and cloud monitoring company had lost 8.77% over the past month, lagging the Computer and Technology sector's loss of 4.62% and the S&P 500's loss of 0.21% in that time.
The upcoming earnings release of Datadog will be of great interest to investors. The company's earnings report is expected on August 8, 2024. The company is expected to report EPS of $0.35, down 2.78% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $622.74 million, indicating a 22.23% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.54 per share and a revenue of $2.6 billion, representing changes of +16.67% and +22.26%, respectively, from the prior year.
Any recent changes to analyst estimates for Datadog should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Datadog is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Datadog's current valuation metrics, including its Forward P/E ratio of 76.65. This denotes a premium relative to the industry's average Forward P/E of 31.36.
We can additionally observe that DDOG currently boasts a PEG ratio of 8.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.8.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 97, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Datadog (DDOG) Stock Falls Amid Market Uptick: What Investors Need to Know
Datadog (DDOG - Free Report) closed at $117.92 in the latest trading session, marking a -0.33% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.08% for the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, added 0.07%.
Heading into today, shares of the data analytics and cloud monitoring company had lost 8.77% over the past month, lagging the Computer and Technology sector's loss of 4.62% and the S&P 500's loss of 0.21% in that time.
The upcoming earnings release of Datadog will be of great interest to investors. The company's earnings report is expected on August 8, 2024. The company is expected to report EPS of $0.35, down 2.78% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $622.74 million, indicating a 22.23% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.54 per share and a revenue of $2.6 billion, representing changes of +16.67% and +22.26%, respectively, from the prior year.
Any recent changes to analyst estimates for Datadog should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Datadog is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Datadog's current valuation metrics, including its Forward P/E ratio of 76.65. This denotes a premium relative to the industry's average Forward P/E of 31.36.
We can additionally observe that DDOG currently boasts a PEG ratio of 8.02. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.8.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 97, this industry ranks in the top 39% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.