Analysts Shift Datadog's Outlook After Q2 Print, See Resilience Amid Cloud Trends and Growth Concerns
Portfolio Pulse from Anusuya Lahiri
Analysts have revised their outlook for Datadog Inc (NASDAQ: DDOG) following its Q2 results. Despite slightly better than expected results, the company's weaker second-half outlook due to macro cloud adoption headwinds and lower usage growth from existing customers has led to a reduction in price targets. Revenue for FY23 is expected to be ~2% below pre-quarter expectations. The company's shares traded lower by 0.92% at $87.22.
August 09, 2023 | 7:43 pm
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NEUTRAL IMPACT
Microsoft Corp (NASDAQ: MSFT) was mentioned in relation to improving usage trends from other companies, which contrasts with Datadog's lower usage growth.
Microsoft was mentioned in the context of improving usage trends from other companies, contrasting with Datadog's lower usage growth. However, the news does not directly impact Microsoft's stock.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEGATIVE IMPACT
Datadog's weaker H2 outlook and lower usage growth from existing customers has led to a reduction in price targets by analysts. The company's shares traded lower by 0.92%.
The company's weaker second-half outlook due to macro cloud adoption headwinds and lower usage growth from existing customers has led to a reduction in price targets by analysts. This negative news is likely to impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100