On November 3, Datadog fell 4.07% in Pre-Market Trading, trading at $209.12 per share, with turnover of $2.2012 million.
The move came as the company heads into its November 4 earnings release, while recent market commentary indicated that short-term sentiment remained cautious even though several brokers continued to expect another quarter of revenue outperformance and potentially higher guidance.
Recent reports said Datadog is scheduled to report before the market opens on November 4, with consensus pointing to quarterly revenue of about $1.237 billion, up 28.66% year over year, and adjusted EPS of about $0.66. Wedbush said usage trends likely accelerated and could support another beat-and-raise quarter, while Oppenheimer projected revenue upside of around 4% versus consensus and expected net retention to stay above 120%. Even so, the latest movement-focused market update noted that funds remained cautious ahead of the print, helping explain the pre-market weakness.
(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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