Market News

DDOG Tanks on Unimpressive Guidance

Shares of SaaS platform operator Datadog (NASDAQ:DDOG) are tanking today after the company posted fourth-quarter numbers.

Revenue rose 43.8% year-over-year to $469 million, outperforming estimates by nearly $21 million. EPS at $0.26 too came in ahead of expectations by $0.07. At the end of the quarter, Datadog had about 317 customers with $1 million in annual recurring revenue and 2,780 customers with $100,000 in annual recurring revenue.

Despite these metrics, investors were unimpressed with the company’s outlook. For Q1, DDOG sees revenue landing between $466 million and $470 million. EPS is expected to hover between $0.22 and $0.24.

Overall, Wall Street has a consensus price target of $105.79 on DDOG, implying a 19.24% potential upside in the stock. That’s after a 47% slide in the share price over the past year.

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