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Earnings Estimates Moving Higher for Datadog (DDOG): Time to Buy?

Zacks Equity Research

Datadog, Inc. DDOG is a monitoring and analytics platform for IT operations teams, developers and business users that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DDOG’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Datadog could be a solid choice for investors.

Current Quarter Estimates for DDOG

In the past 30 days, six estimates have gone higher for Datadog while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 3 cents per share 30 days ago, to a loss of 1 cent per share today, a move of 66.7%.

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Current Year Estimates for DDOG

Meanwhile, Datadog’s current year figures are also looking quite promising, with seven estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 11 cents per share 30 days ago to a loss of 4 cents per share today, an increase of 63.6%.

Datadog, Inc. Price and Consensus

Datadog, Inc. Price and Consensus
Datadog, Inc. Price and Consensus

Datadog, Inc. price-consensus-chart | Datadog, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Zacks Investment Research