Últimas noticias sobre Domo (NASDAQ:DOMO) Bolsa

Domo

Domo Inc provides a cloud-based platform that digitally connects all the data, systems and people in an organization, giving them access to real-time data and insights and allowing them to manage their business from their smartphones. The company offers a platform to its customers as a subscription-based service. Users receive notifications on any device and immediately act on the invitation, after which the system can write back to the original system of record. The company derives revenue from subscriptions to its cloud-based platform and professional services.

Domo Inc

Goldman Sachs analyst Matthew Sykes maintains CareDx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNA#NASDAQ">CDNA</a>) with a Buy and raises the price target from $26 to $35.

News

Price Target

Analyst Ratings

CDNA

Goldman Sachs Maintains Buy on CareDx, Raises Price Target to $35

ASML

ASML CEO Says That Without Demand For Artficial Intelligence, Chip Market Would Be "Sad"

WIIM

CGEM

Cullinan Therapeutics shares are trading higher after the FDA cleared the company's IND application for CLN-978.

Wave Life Sciences shares are trading higher following proof-of-mechanism data from its study of WVE-006 for alpha-1 antitrypsin deficiency.

Earnings

Abbott Executive Says Volume-Based Procurement In China Impacted Core Lab Business Sales; New OTC Glucose Monitor Lingo's 2-Sensor Pack Is Most Popular In U.S., With U.S. Reorder Rates Higher Than U.K.

On Wednesday, smart platform technology company SKYX Platforms Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYX#NASDAQ">SKYX</a>) (SKYX Technologies) announced a collaboration with home décor website Wayfair Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>)for its advanced and smart plug-and-play products.
SKYX will offer a wide variety of its advanced and smart plug-and-play products, including retrofit kits, plug-and-play smart light fixtures, ceiling fans, recessed lights, and ceiling outlet receptacles.
In the coming weeks, SKYX will likely offer its advanced and smart products on Wayfair&#8217;s website.
Steve Schmidt, President of SKYX, said, &#8220;I view this collaboration as a great growth opportunity for us and Wayfair, as our technology offers a variety of products for both retail and professional segments, that is a growing category for Wayfair.&#8221;
Rani Kohen, Founder and Executive Chairman of SKYX, said: &#8220;This is a significant opportunity to enhance our market penetration to both retail and professional channels, including architects, designers, and home decorators.&#8221;
SKYX has a series of advanced-safe-smart platform technologies, with over 97 U.S. and global patents and patent pending applications. Additionally, the company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings.
Price Action: SKYX stock is down 2.34% at $1.25 at the last check on Wednesday.

Market-Moving Exclusives

Exclusives

SKYX

EXCLUSIVE: SKYX Platforms Partners with Wayfair to Launch Smart Plug-and-Play Home Products

AMZN

Amazon Launches New Kindle Lineup Featuring First-Ever Color Kindle, Reimagined Kindle Scribe With Enhanced Writing Capabilities, Fastest Kindle Paperwhite, And Compact Entry Kindle In Matcha Color

EXCLUSIVE: SKYX Tells Benzinga Co. Announces A Collaboration With Wayfair For Its Advanced And Smart Plug & Play Lighting For Retail And Professional Segments Including Designers And Architects

Keefe, Bruyette &amp; Woods analyst David Konrad maintains PNC Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) with a Underperform and raises the price target from $180 to $182.

Keefe, Bruyette & Woods Maintains Underperform on PNC Finl Servs Gr, Raises Price Target to $182

Wedbush analyst Seth Basham reiterates CarMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) with a Outperform and maintains $95 price target.

Reiteration

Wedbush Reiterates Outperform on CarMax, Maintains $95 Price Target

Keefe, Bruyette &amp; Woods analyst David Konrad maintains Goldman Sachs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) with a Outperform and raises the price target from $555 to $570.

Keefe, Bruyette & Woods Maintains Outperform on Goldman Sachs Gr, Raises Price Target to $570

Contracts

AIFF

DRUG

Firefly Neuroscience Collabs With Bright Minds Bioscience To Analyze Data From Phase 1 Study Using  AI, FDA-Cleared BNA Technology

At the recent <a href="https://www.benzinga.com/events/">Benzinga Cannabis Capital Conference</a>, Tony Schor, CEO of Investor Awareness, offered a candid look into the challenges and opportunities facing cannabis companies, particularly in the realm of mergers and acquisitions (M&amp;A). Schor, a seasoned expert in the cannabis industry, discussed how companies are <a href="https://www.linkedin.com/posts/benzinga_yesterday-benzingas-abbey-higginbotham-activity-7249958067725856769-_mwn?utm_source=share&amp;utm_medium=member_desktop">navigating financial obstacles</a> while finding creative ways to secure capital and expand in a tightening market.
<h4 class="wp-block-heading">M&amp;A Activity Picks Up in Cannabis</h4>
Schor pointed to a renewed focus on companies with strong revenue streams as mergers and acquisitions gain traction. &#8220;People are looking for revenue-producing, not necessarily distressed, but revenue-generating cannabis companies,&#8221; he said, noting that investors are accumulating these assets for future sales opportunities.
Schor emphasized that the M&amp;A landscape is changing. &#8220;It's not necessarily the large MSOs doing the transactions, but new independents and cannabis operators who have left and now are coming back to the space,&#8221; he said.
<h4 class="wp-block-heading">Capital Challenges Remain a Major Hurdle</h4>
A recurring theme in Schor's discussion was companies&#8217; difficulty securing capital, regardless of their size or market position. &#8220;Cash capital is tough to find,&#8221; he stressed. Both public and private cannabis companies are feeling the squeeze, with public markets offering limited opportunities for growth and private companies struggling to access institutional money.
&#8220;Private companies are finding money, but their end game is to go public,&#8221; Schor added, highlighting the long-term goals many cannabis businesses have. However, the lack of access to federal banking presents a significant challenge, limiting growth potential. &#8220;Without federal banking reforms, institutional support remains out of reach,&#8221; Schor said.
<h4 class="wp-block-heading">The Power of Partnerships</h4>
Schor concluded with a call to action for cannabis businesses to embrace partnerships to overcome capital constraints and expand their operations. He stressed the importance of collaboration in the industry and offered practical advice for brands looking to enter new markets. &#8220;The only way this industry survives is if you talk to a new person and discuss potential collaborations and partnerships,&#8221; Schor said.
Partnerships can be a lifeline for companies looking to grow without heavy capital investment. &#8220;Perhaps you're a brand in Colorado and want to go to other markets, but you don't have the capital. Find another brand or a manufacturing partner in another market,&#8221; Schor said, highlighting how businesses can expand without taking on significant financial risk.
 Schor's insights at the conference provided a roadmap for cannabis companies grappling with financial hurdles and seeking ways to grow. By focusing on revenue-producing acquisitions, navigating capital challenges, and leveraging partnerships, cannabis businesses can better position themselves for success in an increasingly competitive environment.
<hr class="wp-block-separator has-alpha-channel-opacity" />
Don&#8217;t miss your chance to be part of Cannabis Market Spotlight: California in Anaheim on Nov. 12. Whether you&#8217;re looking to connect with industry leaders, explore investment opportunities, or gain the latest insights into California&#8217;s cannabis market, this event has it all.&nbsp;<a href="https://cannabismarketspotlight.com/california/anaheim-november-12/" target="_blank" rel="noreferrer noopener">Secure your spot today!</a>
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. <a href="https://newsletteremail.benzinga.com/subscribe?_gl=1&#x2A;1ajl6va&#x2A;_gcl_au&#x2A;NjI5OTQ1MTM5LjE3Mjc5MzA5MjI.&#x2A;_ga&#x2A;MTAyOTE3MTY5OC4xNzI3OTMwOTIy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcyODkxMjAzOS41LjEuMTcyODkxMjEyMC4wLjAuMA.." target="_blank" rel="noreferrer noopener">Subscribe</a> to our newsletter here. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41356399/thc-beverages-could-revive-struggling-alcohol-industry-expert-says-partying-stress-and-anxiety-h">THC Beverages Could Revive Struggling Alcohol Industry, Expert Says: &#8216;Partying, Stress And Anxiety Haven&#8217;t Diminished&#8217;</a></li>
</ul>
Photo: Courtesy of Sora Shimazaki by Pexels

Cannabis

Events

Interview

How Cannabis Companies Can Thrive: 'Cash Capital Is Tough To Find,' But Partnerships Hold The Key

Keefe, Bruyette &amp; Woods analyst Catherine Mealor maintains FB Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBK#NYSE">FBK</a>) with a Market Perform and raises the price target from $48 to $50.

Keefe, Bruyette & Woods Maintains Market Perform on FB Financial, Raises Price Target to $50

Continues As Proud Partner Of Youth Sports Day, Hosts Events With Coaches And Athletes, And Engages Fans With On-Site Activations And Special Promotions At Volunteer Village And DICK'S House Of Sport In Knoxville

DICK'S Sporting Goods Extends Multi-Year Partnership With University Of Tennessee Athletics

Legal

FBLG

FibroBiologics Issued European Patent For Fibroblast Delivery Of Tumor Inhibitory Agents

Charter Runs Until March 1, 2025 - April 20, 2025; Diana Shipping's Fleet Totals 38 Dry Bulk Vessels With 4.2M dwt Capacity

Diana Shipping Announces Time Charter Contract For m/v Selina With Raffles Shipping At $10,500 Per Day, Expected To Generate $1.39M In Revenue For Minimum Period

Keefe, Bruyette &amp; Woods analyst David Konrad maintains Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) with a Outperform and raises the price target from $48 to $50.

Keefe, Bruyette & Woods Maintains Outperform on Bank of America, Raises Price Target to $50

Prologis, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) shares are trading higher after the company&nbsp;reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41354646/prologis-reports-third-quarter-results" rel="noreferrer noopener">third-quarter financial results</a>.
Rental revenue of $1.90 billion missed the consensus estimates of $1.95 billion. The company&#8217;s average occupancy stood at 95.9%, with a leased 49.0MSF operating portfolio and a 1.8MSF development portfolio.
Core funds from operations per diluted share were&nbsp;$1.43, higher than&nbsp;$1.30 a year ago and above&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the consensus of&nbsp;$1.37</a>.
During the quarter, Prologis and its co-investment ventures issued an aggregate of&nbsp;$4.6 billion of debt at a weighted average interest rate of&nbsp;4.6% and a weighted average term of&nbsp;8.9 years.&nbsp;
As of quarter-end, debt as a percentage of total market capitalization was&nbsp;23.1%, and the company&#8217;s weighted average interest rate on its share of total debt was&nbsp;3.1%, with a weighted average term of 9.2&nbsp;years.
FY24 Guidance: Prologis revised the outlook for core FFO attributable to common stockholders/unitholders to $5.42 &#8211; $5.46 (from $5.39 &#8211; $5.47) <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">versus the consensus of $5.42.</a>
Also, the company revised the outlook for net earnings per share to $3.35 &#8211; $3.45 (from $3.25 &#8211; $3.45).
The company revised average occupancy&nbsp;guidance&nbsp;to 96.00% &#8211; 96.50% <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39816762/why-industrial-reit-prologis-shares-are-trading-higher-today" rel="noreferrer noopener">(from 95.75% &#8211; 96.75%) in FY24</a>.
Hamid R. Moghadam, co-founder and CEO, said, &#8220;Looking ahead, the supply picture is improving, and the long-term demand drivers for our business remain strong. Going forward, we find ourselves in an enviable position as the partner of choice for leading global customers, to meet their needs in supply chain, digital and energy infrastructure.&#8221;
Investors can gain exposure to the stock via&nbsp;Pacer Industrial Real Estate ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INDS#NYSE">INDS</a>) and&nbsp;SP Funds S&amp;P Global REIT Sharia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPRE#NYSE">SPRE</a>).
Price Action:&nbsp;PLD shares are up 1.32% at $122.99 premarket at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/real-estate/reit/24/09/41036750/new-us-single-family-home-sales-fall-from-prior-month-but-are-up-from-a-year-ago-as-mortgage-rat" target="_blank" rel="noreferrer noopener">New US Single-Family Home Sales Fall From Prior Month — But Are Up From A Year Ago As Mortgage Rates Decline</a></li>
</ul>

Equities

Guidance

Pacer Benchmark Industrial Real Estate SCTR ETF

INDS

SPRE

Logistics Real Estate Company Prologis' Q3 Earnings: FFO Beats, Revenue Misses, Revises FY24 Guidance

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) are surging, with the former benefitting from social media chatter about Elon Musk <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41220500/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co">heading a &#8220;D.O.G.E&#8221; department. </a>
What Happened: Dogecoin, Shiba Inu and Dogecoin-themed cryptocurrencies have performed exceptionally well over the past 24 hours:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price</td>
<td>Market cap</td>
<td>&nbsp;&nbsp;24-hour trend</td>
<td>7-day trend</td>
</tr>
<tr>
<td>Dogecoin </td>
<td>$0.1256</td>
<td>$18.386B</td>
<td>&nbsp;+11.2%</td>
<td>+15.1%</td>
</tr>
<tr>
<td>Shiba Inu </td>
<td>$0.00001875</td>
<td>$11.04B</td>
<td>&nbsp;+5.2%</td>
<td>+7.2%</td>
</tr>
<tr>
<td>Department Of Government Efficiency (D.O.G.E)</td>
<td>$0.026</td>
<td>$25.68M</td>
<td>+122.4%</td>
<td>+152.4%</td>
</tr>
</tbody>
</table>
</figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41313977/dogecoins-on-chain-data-chart-patterns-flash-bullish-signals-this-top-analyst-thinks-its-a">Dogecoin&#8217;s On-Chain Data, Chart Patterns Flash Bullish Signals: This Top Analyst Thinks It&#8217;s A &#8216;Buy&#8217;</a>
Trader Notes: Crypto analysts are speculating on the potential impact of <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41313912/harris-or-trump-bitcoin-to-be-in-win-win-position-irrespective-of-who-wins-the-white-house">a Trump victory</a> in the upcoming U.S. presidential election on certain cryptocurrencies, particularly those associated with the &#8220;DOGE&#8221; narrative.
Andrew Kang <a href="https://x.com/Rewkang/status/1846231275847454786">suggests</a> that owning Dogecoin and other meme coins could be &#8220;one of the most interesting ways to express a &#8216;Trump Victory&#8217; trade.&#8221; He points to the increased likelihood of a <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39334602/arthur-hayes-raoul-pal-predict-dogecoin-etf-if-people-wait-in-line-for-luxury-brands-they-">Dogecoin ETF</a> and the potential creation of a<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40780511/dogecoin-surges-8-as-elon-musk-jokes-doge-will-be-the-official-mascot-of-department-of-gov"> Department of Government Efficiency (DOGE)</a> under a Trump administration, which could keep the cryptocurrency in the headlines.
Supporting this view, analyst Unipcs <a href="https://x.com/theunipcs/status/1846474366684438605">highlights</a> the recent performance of DOGE-related assets, stating, &#8220;it&#8217;s hard not to be bullish on both doges if you really think Trump is going to win.&#8221; 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Statistics: IntoTheBlock data shows Dogecoin's large transaction volume increasing by 4.6% and daily active addresses falling by 1.5%. Transactions greater than $100,000 are up from&nbsp; 317 to 394 in a single day.
Shiba Inu's large transaction volume is down by 24.5% and daily active addresses are up by 17.2%. Shiba Inu has burned around 3 million SHIB coins from its ecosystem over the past 24 hours.
Community News: The official Dogecoin account picked up on a Shiba Inu-themed easter egg in Tesla&#8217;s Robotaxi presentation:
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hey <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> is that a Shiba Inur taxi? <a href="https://t.co/ihfktgc4ds">pic.twitter.com/ihfktgc4ds</a>
&mdash; Dogecoin (@dogecoin) <a href="https://twitter.com/dogecoin/status/1844591727656448375?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Dogecoin-themed account Doge Designer <a href="https://x.com/cb_doge/status/1844595234316943841">noted</a> the same, wondering whether Musk would really allow purchases with Dogecoin in the future.
What&#8217;s Next: The influence of&nbsp;meme coins is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41312634/dogecoin-killer-shiba-inu-incinerates-277m-coins-in-1-transaction-watch-these-levels-for-a">&#8216;Dogecoin Killer&#8217; Shiba Inu Incinerates 277M Coins In 1 Transaction: Watch These Levels For A Bullish Rally</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$DOGE

$SHIB

Dogecoin Rockets Up 10%, Shiba Inu Spikes 5%: What Is Going On?

Here's the major earnings after the close today

Domo Non-GAAP EPS of -$0.07 beats by $0.21, revenue of $78.4M beats by $1.8M

Domo, Inc. (DOMO) Q2 2025 Earnings Call Transcript

Domo appoints Tod Crane CFO and RJ Tracy as Chief Revenue Officer

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Domo (DOMO – Research Report), Marvell (MRVL – Res...

Analysts Offer Insights on Technology Companies: Domo (DOMO), Marvell (MRVL) and Autodesk (ADSK)

Domo: Advantageous Time To Sell (Rating Downgrade)

In a report released today, Gil Luria from D.A. Davidson maintained a Hold rating on Domo (DOMO – Research Report), with a price target of $8.00. T...

D.A. Davidson Sticks to Their Hold Rating for Domo (DOMO)

Domo files for $300M mixed securities shelf

In a report released today, Eric Martinuzzi from Lake Street maintained a Hold rating on Domo (DOMO – Research Report), with a price target of $8.0...

Lake Street Sticks to Its Hold Rating for Domo (DOMO)

Datadog (DDOG) reported mixed financial results in the second quarter of 2024. While the cloud-based monitoring and analytics platform operator's long-term outlook appears bright with strategic investments and innovations, it faces mixed analysts' expectations and rigid competition. So, should you buy or hold this stock? Read more to find out... Datadog, Inc. (<a href="https://stocknews.com/stock/DDOG/">DDOG</a>) is an operator of an observability and security platform for cloud applications. It offers a wide range of products, including infrastructure and application performance monitoring, log management, digital experience monitoring, and database monitoring.
The company easily beat the analysts' estimates in the last reported quarter. It reported second-quarter revenue of $645.28 million, exceeding analysts' expectations of $625.10 million. Its EPS came in at $0.43, compared to the consensus estimate of $0.36.
During the second quarter, Datadog introduced various new products and capabilities like Datadog Kubernetes Autoscaling and Log Workspaces. The company continued its efforts of delivering innovations to cater to the customers and help them observe their environments, secure their infrastructures and workloads, and take necessary measures to remediate problems actively.
Olivier Pomel, co-founder and CEO of Datadog, commented, "Datadog executed well in the second quarter, with 27% year-over-year revenue growth, continued customer growth, and expanding multi-product adoption across our platform."
Datadog holds strong leadership in cloud monitoring and analytics in the cloud computing segment. The segment refers to the on-demand seamless access of computing resources consisting of servers, storage, databases, networking, software, analytics, and intelligence over the Internet.
However, DDOG competes with other leading cloud computing-centric companies driven by AI. These include Domo Inc. (<a href="https://stocknews.com/stock/DOMO/">DOMO</a>), Okta Inc. (<a href="https://stocknews.com/stock/OKTA/">OKTA</a>), Olo Inc. (<a href="https://stocknews.com/stock/OLO/">OLO</a>), and Workday Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>), which are set to deliver significant returns in the mid to long term. This can result in compromised profitability for DDOG as companies strive to leverage AI and enhance their capabilities and offerings
As per the company's third-quarter 2024 outlook, DDOG expects revenue between $660 million and $664 million. Its non-GAAP operating income is anticipated to be $146 million - $150 million, while non-GAAP net income per share is set to be $0.38 to $0.40.
For the full year 2024, Datadog's revenue is expected to range from $2.62 billion to $2.63 billion. The company's non-GAAP operating income is expected to be between $620 million and $630 million. And non-GAAP net income per share is projected to be $1.62 - $1.66.
Shares of DDOG have gained 8% over the past month and 12.3% over the past year to close its last trading session at $110.09. However, the stock has declined 10.9% over the past six months.
Let's look at factors that could influence DDOG's performance in the upcoming months.
Positive Recent Developments
On June 26, DDOG unveiled Datadog Kubernetes Autoscaling, a set of capabilities that intelligently automates resource optimization and automatically scales customers' Kubernetes environments based on real-time and historical utilization metrics. This made DDOG the first observability vendor to offer its customers to make changes to their Kubernetes environments.
Also, on the same day, the company launched Log Workspaces, a suite of capabilities in a powerful, collaborative space enabling analysts and engineers from all teams in an organization to connect logs and other datasets and build multi-stage queries to answer complex questions on business, security and application issues of sophisticated analytics.
Datadog also announced new additions to its security product portfolio, including Agentless Scanning, Data Security, and Code Security, allowing DevOps and security teams to easily secure their code, cloud environments, and production applications.
Mixed Financials
For the second quarter that ended June 30, 2024, DDOG's revenue increased 26.6% year-over-year to $645.28 million. However, its cost of revenue also increased 21.3% year-over-year to $123.50 million. The company's non-GAAP <a href="https://www.investopedia.com/terms/g/grossprofit.asp#:~:text=Gross%20profit%2C%20or%20gross%20income,fluctuate%20compared%20to%20production%20output.">gross profit</a> grew 27.9% from the year-ago value to $529.52 million, while the non-GAAP operating income of $157.54 million reflects an increase of 48% from the prior year's quarter.
Furthermore, the company's non-GAAP net income after non-GAAP tax adjustments came in at $152.96 million and $0.43 per share, up 50.8% and 48.3% year-over-year, respectively. Also, its free cash flow increased 1.4% year-over-year to $143.78 million.
However, the company's total liabilities stood at $2.01 billion as of June 30, 2024, compared to $1.91 billion as of December 31, 2023.
Favorable Historical Growth
DDOG's revenue grew at a CAGR of 46.3% over the past three years. Its tangible book value increased at a CAGR of 47.2% over the same period, while the company's total assets grew at a CAGR of 28.6% over the same time frame.
However, the company's levered free cash flow increased at a CAGR of 81.2% over the same timeframe.
Mixed Analyst Estimates
Analysts expect DDOG's revenue for the third quarter (ending September 2024) to come in at $664.75 million, indicating an increase of 21.4% year-over-year. However, its consensus EPS estimate of $0.40 for the same period reflects a 12.1% year-over-year decline. The company has surpassed the consensus revenue and EPS estimates in all of the trailing four quarters.
Further, for the fiscal year 2024, the company's revenue and EPS are anticipated to grow 23.7% and 26.8% year-over-year to $2.63 billion and $1.67, respectively. In addition, Street expects its revenue and EPS for the fiscal year 2025 to grow 22.3% and 16.1% from the prior year to $3.22 billion and $1.94, respectively.
Elevated Valuation
In terms of forward EV/Sales, DDOG is currently trading at 13.34x, 380.6% higher than the industry average of 2.78x. The stock's forward non-GAAP P/E and Price/Sales of 65.75x and 14.10x are considerably higher than the industry average of 22.90x and 2.77x, respectively.
Additionally, the stock's forward EV/EBITDA and Price/Book of 52.02x and 14.18x are 271.4% and 251.6% higher than the industry averages of 14.01x and 4.03x, respectively.
POWR Ratings Reflect Uncertainty
DDOG's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, translating to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. DDOG has an A grade for Growth, in sync with its favorable historical growth.
However, the stock has a D grade for Value and Stability, consistent with its elevated valuation and mixed analysts' estimates.
DDOG is ranked #17 among the 39 stocks in the <a href="https://stocknews.com/category/software-business/">Software - Business</a> industry.
Beyond what I have stated above, we have also given DDOG grades for Momentum, Sentiment, and Quality. Get access to all the DDOG ratings <a href="https://stocknews.com/stock/DDOG/">here</a>.
Bottom Line
DDOG reported mixed financial results in the last reported quarter. Further, the company's long-term prospects appear promising, driven by its strategic investments and continuous innovations. However, it continues to grapple with increasing cost of expenses and rising competition from its peers.
Given DDOG's mixed financials and elevated valuation, waiting for a better entry point in this stock seems prudent.
Stocks to Consider Instead of Datadog, Inc. (DDOG)
Given its near-term uncertain prospects, the odds of DDOG outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the <a href="https://stocknews.com/category/software-business/">Software - Business</a> industry instead:
SolarWinds Corporation (<a href="https://stocknews.com/stock/SWI/">SWI</a>)
VMware Inc. (<a href="https://stocknews.com/stock/VMW/">VMW</a>)
RingCentral Inc. Cl A (<a href="https://stocknews.com/stock/RNG/">RNG</a>)
For exploring more A and B-rated software stocks, <a href="https://stocknews.com/category/software-business/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
DDOG shares were trading at $107.20 per share on Friday afternoon, down $2.89 (-2.63%). Year-to-date, DDOG has declined -11.68%, versus a 14.42% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/ddog-swi-vmw-rng-domo-okta-olo-wday-with-ai-powered-analytics-is-datadog-ddog-a-stock-to-watch/>With AI-Powered Analytics, Is Datadog (DDOG) a Stock to Watch?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

With AI-Powered Analytics, Is Datadog (DDOG) a Stock to Watch?

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