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Datadog, Inc. (NASDAQ:DDOG) posted upbeat sales for its fourth quarter, but issued FY24 EPS guidance below estimates on Tuesday.
The company clocked fourth-quarter FY23 revenue growth of 26% year-on-year to $589.649 million, beating the consensus of $568.695 million. Adjusted EPS of 44 cents was in line with the consensus, according to data from Benzinga Pro.
"We are pleased with our strong execution in fiscal year 2023, with 27% year-over-year revenue growth, $660 million in operating cash flow, and $598 million in free cash flow," said Olivier Pomel, co-founder and CEO of Datadog. "During 2023, we delivered over 400 new features and capabilities to help our customers deliver on their cloud migration and digital transformation plans."
Datadog said it expects first-quarter revenue of $587 million-$591 million versus the consensus of $585.95 million. It sees an adjusted EPS of $0.33-$0.35 versus the consensus of $0.39.
Datadog expects fiscal 2024 revenue of $2.555 billion-$2.575 billion versus the consensus of $2.59 billion. It projects an adjusted EPS of $1.38 – $1.44 versus the consensus of $1.83.
Datadog shares gained 4% to trade at $136.97 on Wednesday.
These analysts made changes to their price targets on Datadog after the company reported quarterly results.
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Posted In: DDOG
