Datadog Inc (DDOG) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Operator
Welcome to the Q1 2021 Datadog earnings conference call. My name is Karen. I will be your operator for today s call. [Operator instructions] I will now turn the call over to Yuka Broderick, head of investor relations.
Yuka, you may begin.
Head of Investor Relations
Thank you, Karen. Good afternoon, and thank you for joining us today to review Datadog s first-quarter 2021 financial results, which we announced in our press release issued after the close of market today. Joining me on the call today are Olivier Pomel, Datadog s co-founder and CEO; and David Obstler, Datadog s CFO. During this call, we will make statements related to our business that are forward-looking under federal securities laws and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our future financial performance, including our outlook for the second quarter and for the full year of 2021, our strategies, the potentia
Author Bio
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What happened
Shares of
Datadog (NASDAQ:DDOG) jumped today, up by 6% as of 12:45 p.m. EST, after a Wall Street analyst initiated coverage on the company. Truist Securities has started Datadog stock with a buy rating and assigned a price target of $120, which represents 21% upside from yesterday s close.
So what
Analyst Joel Fishbein acknowledges that Datadog is currently trading at lofty valuation multiples but believes that the company s strong growth and leadership in the growing observability market justifies the premium. Revenue jumped 61% in the third quarter, and sales are forecast to increase by 62% for the full-year 2020.