Datadog earnings in focus, but DDOG stock tumbles on guidance

data dog (DDOG) reported fourth-quarter earnings and revenue on Tuesday that beat expectations, but the software maker’s 2024 guidance fell short of expectations. DDOG shares fell sharply.


New York-based Datadog reports earnings before the bell. Today’s stock marketDatadog stock initially fell by double digits before recovering slightly.

The stock price fell 6.6% to around 126 points in early trading.A key concern for investors is whether DDOG stock is in its 50-day moving average.

Datadog’s December quarter adjusted earnings per share were 44 cents, a 70% increase from the same period last year. The enterprise software maker’s revenue jumped 26% to $589.6 million.

Meanwhile, analysts expect Datadog to earn 43 cents per share on revenue of $568.7 million. In the same period last year, Datadog earned 26 cents per share on revenue of $469.4 million.

DDOG Stock: Misses 2024 Guidance

For full-year 2024, Datadog forecasts profits of $1.41, at the midpoint of guidance, and earnings of $1.77 per share. Datadog said it expects revenue of $2.565 billion. Wall Street analysts expect sales of $2.586 billion in 2024, up 23% from expectations a year ago.

Datadog stock is scheduled to hold an investor day on February 15th.

Founded in 2010, Datadog operates a monitoring and analytics platform for software developers and information technology departments. Datadog has a partnership with Amazon Web Services, the cloud computing arm of Amazon Web Services. (Amazon).

Looking at Datadog’s earnings report, the software stock is up nearly 11% in 2024 and 67% over the past year.

According to the data, DDOG stock has a Relative Strength Rating of 94 (out of a high of 99) IBD inventory check.

Follow Reinhardt Krause on X (formerly Twitter), @reinhardtk_tech Learn about the latest developments in artificial intelligence, cybersecurity, and cloud computing.

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