Stock Alert: Datadog Climbs 13% On Upbeat Q1 Results

(RTTNews) - Shares of Datadog Inc. (DDOG) are gaining more than 13 percent or $7.50 in Tuesday's morning trade at $63.19 after the company reported a turnaround to profit in the first quarter on strong revenue growth. The stock has traded in a range of $27.55 to $64.34 in the past 52 weeks.

New York-based Datadog is a provider of monitoring and analytics platform for software developers, IT operations teams, and business users in the cloud.

Monday, Datadog reported net income for the first quarter of $6.48 million or $0.02 per share, compared to net loss of $9.49 million or $0.12 per share in the year-ago period. Adjusted earnings for the quarter were $0.06 per share. Revenue for the quarter grew 87 percent to $131.25 million from $70.05 million in the year-ago period.

As of March 31, 2020, the company had 960 customers with annualized revenue run-rate or ARR of $100,000 or more, representing an increase of 89 percent from 508 as of March 31, 2019. It also surpassed 400 out-of-the-box supported integrations.

For the second quarter, Datadog forecasts revenue between $134 million and $136 million and adjusted earnings between $0.00 and $0.01 per share. For fiscal 2020, the company projects revenue between $555 million and $565 million as well as adjusted earnings between $0.02 and $0.06 per share.