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In the latest trading session, Datadog (DDOG) closed at $130.91, marking a -0.73% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.97%. Elsewhere, the Dow lost 0.96%, while the tech-heavy Nasdaq added 0.23%.
Prior to today's trading, shares of the data analytics and cloud monitoring company had lost 25.7% over the past month. This has lagged the Computer and Technology sector's loss of 4.93% and the S&P 500's loss of 0.78% in that time.
Investors will be hoping for strength from Datadog as it approaches its next earnings release. On that day, Datadog is projected to report earnings of $0.11 per share, which would represent year-over-year growth of 83.33%. Meanwhile, our latest consensus estimate is calling for revenue of $291.17 million, up 64.01% from the prior-year quarter.
Any recent changes to analyst estimates for Datadog should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 remained stagnant. Datadog is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Datadog currently has a Forward P/E ratio of 248.29. This valuation marks a premium compared to its industry's average Forward P/E of 47.03.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Datadog, Inc. (DDOG) : Free Stock Analysis Report
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