Datadog's Slowing Growth Spurs 1% Decline in Stock Price

Datadog (DDOG) Stock Moves 1%: What You Should Know

Datadog, Inc. (DDOG) shares are trading 1% higher at $84.43, following the company's release of its quarterly earnings report. The move comes as the company's quarterly results exceeded analysts' expectations, with revenue and earnings per share (EPS) both beating estimates.

For the quarter, Datadog reported revenue of $242.5 million, up 34% year-over-year, and EPS of $0.24, beating estimates by $0.03. The company's adjusted operating margin also expanded to 24.4%, up from 21.1% in the prior-year period.

Datadog's strong quarterly performance was driven by the continued adoption of its cloud-based monitoring and analytics platform by businesses of all sizes. The company's platform provides real-time insights into application performance, infrastructure, and user experience, making it an essential tool for businesses looking to optimize their digital operations.

"We're proud of our strong Q3 results, which demonstrate the continued traction of our platform and the value we're delivering to our customers," said Olivier Pomel, co-founder and CEO of Datadog. "As the digital landscape continues to evolve, we're well-positioned to help businesses navigate these changes and achieve their goals."

In addition to its quarterly results, Datadog also provided guidance for the current quarter, forecasting revenue of $244-246 million and EPS of $0.24-0.25. These estimates are in line with analysts' expectations, and the company's strong track record of execution has helped to drive its stock higher in recent weeks.

With its strong quarterly performance and guidance, Datadog's stock is likely to continue its upward trend in the coming days. As the company continues to expand its platform and customer base, investors are likely to remain optimistic about its long-term growth prospects.