These Analysts Boost Their Forecasts On Datadog Following Q4 Results
Portfolio Pulse from Avi Kapoor
Datadog, Inc. (NASDAQ:DDOG) reported Q4 sales exceeding expectations with a 26% year-on-year increase to $589.649 million, and an adjusted EPS of 44 cents, aligning with consensus. FY24 EPS guidance was below estimates, projecting $1.38-$1.44 versus the consensus of $1.83. Despite this, Datadog shares rose 4% to $136.97. RBC Capital and Wolfe Research raised their price targets for Datadog following these results.
February 14, 2024 | 6:15 pm
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Datadog reported higher than expected Q4 sales but provided FY24 EPS guidance below estimates. Shares increased by 4%, and analysts raised price targets.
The positive reaction in stock price despite the lower FY24 EPS guidance suggests investor confidence in Datadog's growth trajectory. Analysts' raised price targets post-earnings indicate a bullish outlook, potentially driving short-term positive momentum.
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