Shares of cloud monitoring and security platform Datadog (NASDAQ:DDOG) are ticking upward today after the company posted upbeat first-quarter numbers.
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Revenue surged 32.8% year-over-year to $481.7 million, surpassing expectations by $13 million. EPS at $0.28 too comfortably beat estimates by $0.05. The company had 2,910 customers with an ARR of over $100,000 at the end of the quarter.
Recently, it also unveiled a new data center in Japan and launched the Data Streams Monitoring and Application Vulnerability Management solutions.
Looking ahead, for Q2 2023, Datadog expects revenue to hover between $498 million and $502 million. EPS is seen landing between $0.27 and $0.29.
For the full-year 2023 top line is anticipated between $2.08 billion and $2.10 billion. EPS for the period is expected between $1.13 and $1.20.
Overall, the Street has a $98.29 consensus price target on Datadog, implying a potential upside of 49.3% in the stock.
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