On August 10, Datadog rose 3.45% in regular trading, trading at $242.92/share, with turnover of $137 million. The stock continues its technical recovery following a sharp post-earnings selloff earlier this month.
On the news front, Rothschild & Co Redburn adjusted its price target on Datadog to $300 from $310 while maintaining a buy rating. This follows a wave of bullish reaffirmations from multiple investment banks including UBS (target $280), Monness Crespi Hardt (target $280), and Needham (target $300) after the company reported Q2 results on August 6.
Datadog's Q2 earnings significantly beat consensus expectations, with revenue of approximately $1.12 billion (up 36% YoY) and non-GAAP EPS of $0.65 (up 41% YoY). The company also raised both Q3 and full-year guidance above Street estimates. Despite the strong results, shares initially plunged over 16% on earnings day as buy-side expectations had run ahead of reported figures. The stock has since attracted capital inflows on the oversold condition, with the current session extending the ongoing technical recovery.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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