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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
For value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth Score
Growth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum Score
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM Score
If you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Datadog (DDOG)
Datadog is a monitoring and analytics platform for developers, IT operations teams and business users in the cloud age. The company’s business runs around its portfolio of over 400 out-of-the-box integrations including public cloud, private cloud, on-premise hardware, databases and third-party software.
DDOG is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. DDOG has a Growth Style Score of A, forecasting year-over-year earnings growth of 23.5% for the current fiscal year.
12 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.09 to $1.63 per share. DDOG boasts an average earnings surprise of 21.7%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DDOG should be on investors' short list.
Zacks Investment Research
In the latest market close, Datadog (DDOG) reached $111.94, with a +0.48% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.03%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.
The data analytics and cloud monitoring company's shares have seen a decrease of 4.96% over the last month, not keeping up with the Computer and Technology sector's loss of 1.2% and the S&P 500's gain of 1.54%.
The investment community will be closely monitoring the performance of Datadog in its forthcoming earnings report. The company is forecasted to report an EPS of $0.39, showcasing a 13.33% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $662.55 million, indicating a 21% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $1.63 per share and a revenue of $2.63 billion, demonstrating changes of +23.48% and +23.4%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Datadog. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. Right now, Datadog possesses a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Datadog has a Forward P/E ratio of 68.49 right now. For comparison, its industry has an average Forward P/E of 30.89, which means Datadog is trading at a premium to the group.
Also, we should mention that DDOG has a PEG ratio of 7.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software industry had an average PEG ratio of 2 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 74, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks Investment Research
Reporter Name | Walters Sean Michael |
Relationship | Chief Revenue Officer |
Type | Sell |
Amount | $336,423 |
SEC Filing | Form 4 |
Sean Michael Walters, Chief Revenue Officer of Datadog, sold 3,096 shares of Class A Common Stock on September 11, 2024, under a 10b5-1 plan. The sales were executed at weighted-average prices of $108.1114 and $109.1201, totaling $336,423. Following these transactions, Walters directly owns 185,834 shares and indirectly owns 8 shares through his son.
SEC Filing: Datadog, Inc. [ DDOG ] - Form 4 - Sep. 13, 2024
For Immediate Release
Chicago, IL – September 13, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Micron Technology Inc. MU, Amphenol Corp. APH, Arista Networks Inc. ANET, Spotify Technology S.A. SPOT and Datadog Inc. DDOG.
Here are highlights from Thursday’s Analyst Blog:
Buy 5 Beaten-Down Tech Stocks with Huge Near-Term Upside
The Wall Street rally, which started at the beginning of 2023, has sustained till today despite intermittent fluctuations. The technology sector, especially the so-called “magnificent 7” and other artificial intelligence-centric bigwigs predominantly drove the rally. However, the space started suffering to a good extent from the beginning of August.
Consequently, valuation of several technology stocks declined significantly, which makes them attractive at the current price levels. We have selected five beaten-down tech giants (market capital > $35 billion) of past month. These are — Micron Technology Inc., Amphenol Corp., Arista Networks Inc., Spotify Technology S.A. and Datadog Inc.
In the past month, these stocks have provided either negative returns or returns well below the broad-market S&P 500 Index (4%). Nevertheless, these stocks have solid price appreciation potential in the short term. Further, each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Technology Sector Melts Recently
The tech rally was led by a massive thrust toward artificial intelligence (AI), especially generative AI. The rapid penetration of digital technologies and the Internet worldwide during the lockdown led to significant adoption of AI.
During this tech-driven rally, most of the technology behemoths have become overvalued. The price of some of these AI stocks skyrocketed by 200-400%. Therefore, a correction was overdue.
Fear of a near-term recession after the release of a series of weak economic data, specifically, the labor market data, which has been resilient so far, shook U.S. stock markets. As a result, market participants rushed to book profit on overvalued tech stocks.
Buy 5 Beaten Down Tech Stocks of Past Month
Micron Technology Inc.
Zacks Rank #2 Micron Technology has been benefiting from the enormous growth of AI applications that boosted demand for its high bandwidth memory chips. MU is a major producer of memory chips used in NVIDIA’s GPUs. MU is benefiting from improved market conditions, robust sales executions and strong growth across multiple business units.
Micron Technology anticipates the pricing of DRAM and NAND chips to increase, thereby improving its revenues. The pricing benefits will primarily be driven by rising AI servers, causing a scarcity in the availability of cutting-edge DRAM and NAND supplies. Also, 5G adoption in IoT devices and wireless infrastructure will spur demand for memory and storage.
Strong Earnings Estimate Revisions for MU Stock
Micron Technology has an expected revenue and earnings growth rate of 61% and more than 100%, respectively, for the current year (ending August 2025). The Zacks Consensus Estimate for the current-quarter, current-year and next-year earnings has improved over the last 60 days.
Tremendous Price Upside Potential for MU Shares
Micron Technology has provided a negative return of 4.4% in the past month. At present, the short-term average price target of brokerage firms for the stock represents a jump of 85.3% from the last closing price of $90.65. The brokerage target price is currently in the range of $100-$225.
Amphenol Corp.
Zacks Rank #2 Amphenol witnessed strong order growth in second-quarter 2024 resulting in a strong book-to-bill ratio of 1.12:1. Acquisitions are helping APH expand its position across a broad array of technologies and markets. APH’s wide array of interconnect and sensor products boosts long-term prospects.
APH’s diversified business model lowers the volatility of individual end markets and geographies. Strong cash flow generating ability is noteworthy. APH expects to deliver strong cash flow despite a slight rise in capital expenditure as it increases spending on defense and IT datacom markets.
Solid Earnings Estimate Revisions for APH Stock
Amphenol has an expected revenue and earnings growth rate of 15.7% and 16.6%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, current-year and next-year earnings has improved over the last 60 days.
Impressive Price Upside Potential for APH Shares
Amphenol has provided a negative return of 1.6% in the past month. At present, the short-term average price target of brokerage firms for the stock represents an increase of 20.8% from the last closing price of $62.06. The brokerage target price is currently in the range of $60-$82.
Arista Networks Inc.
Zacks Rank #2 Arista Networks is likely to benefit from a software-driven, data-centric approach that helps customers build their cloud architecture. Innovative product launches and steady customer additions backed by ANET’s best-in-class portfolio strength have ensured steady top-line expansion.
ANET provides routing and switching platforms with industry-leading capacity, low latency, port density and power efficiency. In addition to high capacity and easy availability, ANET’s cloud networking solutions promise predictable performance along with programmability that enables seamless integration with third-party applications for network management, automation and orchestration.
Robust Earnings Estimate Revisions for ANET Stock
Arista Networks has an expected revenue and earnings growth rate of 16.1% and 18.7%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, next-quarter, current-year and next-year earnings has improved over the last 60 days.
Impressive Price Upside Potential for ANET Shares
The stock price of Arista Networks has provided a mere 1.4% in the past month. At present, the short-term average price target of brokerage firms for the stock represents an increase of 10.4% from the last closing price of $342.93. The brokerage target price is currently in the range of $265-$432.
Spotify Technology S.A.
Zacks Rank #1 Spotify Technology provides audio streaming services worldwide. SPOT operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. SPOT also offers sales, distribution and marketing, contract research and development, and customer support services.
SPOT Stock’s Earnings Estimate Revisions on the Rise
Spotify Technology has an expected revenue and earnings growth rate of 19.4% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, next-quarter, current-year and next-year earnings has improved over the last 60 days.
Solid Price Upside Potential for SPOT Shares
Spotify Technology has provided a negative return of 1% in the past month. At present, the short-term average price target of brokerage firms for the stock represents an increase of 15% from the last closing price of $336.66. The brokerage target price is currently in the range of $225-$460.
Datadog Inc.
Zacks Rank #2 Datadog is benefiting from new customer additions and increased adoption of its cloud-based monitoring and analytics platform, driven by accelerated digital transformation and cloud migration across organizations. DDOG’s solid adoption of Synthetics and Network Performance Monitoring products is expected to aid customer wins in the near term.
Contributions from a solid cloud partner base, including Google Cloud, Microsoft Azure and Amazon Web Services, remain a key growth driver for DDOG besides an expanding portfolio. Considering the abovementioned factors, we expect 2024 net sales to increase 22% from 2023.
Strong Earnings Estimate Revisions for DDOG Stock
Datadog has an expected revenue and earnings growth rate of 23.4% and 23.5%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, current-year and next-year earnings has improved over the last 60 days.
Attractive Price Upside Potential for DDOG Shares
Datadog has provided a negative return of 2.4% in the past month. At present, the short-term average price target of brokerage firms for the stock represents a surge of 33.1% from the last closing price of $109.52. The brokerage target price is currently in the range of $98-$160.
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Zacks Investment Research
800-767-3771 ext. 9339
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Investment Research
The Wall Street rally, which started at the beginning of 2023, has sustained till today despite intermittent fluctuations. The technology sector, especially the so-called “magnificent 7” and other artificial intelligence-centric bigwigs predominantly drove the rally. However, the space started suffering to a good extent from the beginning of August.
Consequently, valuation of several technology stocks declined significantly, which makes them attractive at the current price levels. We have selected five beaten-down tech giants (market capital > $35 billion) of past month. These are — Micron Technology Inc. MU, Amphenol Corp. APH, Arista Networks Inc. ANET, Spotify Technology S.A. SPOT and Datadog Inc. DDOG.
In the past month, these stocks have provided either negative returns or returns well below the broad-market S&P 500 Index (4%). Nevertheless, these stocks have solid price appreciation potential in the short term. Further, each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Technology Sector Melts Recently
The tech rally was led by a massive thrust toward artificial intelligence (AI), especially generative AI. The rapid penetration of digital technologies and the Internet worldwide during the lockdown led to significant adoption of AI.
During this tech-driven rally, most of the technology behemoths have become overvalued. The price of some of these AI stocks skyrocketed by 200-400%. Therefore, a correction was overdue.
Fear of a near-term recession after the release of a series of weak economic data, specifically, the labor market data, which has been resilient so far, shook U.S. stock markets. As a result, market participants rushed to book profit on overvalued tech stocks.
Buy 5 Beaten Down Tech Stocks of Past Month
Micron Technology Inc.
Zacks Rank #2 Micron Technology has been benefiting from the enormous growth of AI applications that boosted demand for its high bandwidth memory chips. MU is a major producer of memory chips used in NVIDIA’s GPUs. MU is benefiting from improved market conditions, robust sales executions and strong growth across multiple business units.
Micron Technology anticipates the pricing of DRAM and NAND chips to increase, thereby improving its revenues. The pricing benefits will primarily be driven by rising AI servers, causing a scarcity in the availability of cutting-edge DRAM and NAND supplies. Also, 5G adoption in IoT devices and wireless infrastructure will spur demand for memory and storage.
Strong Earnings Estimate Revisions for MU Stock
Micron Technology has an expected revenue and earnings growth rate of 61% and more than 100%, respectively, for the current year (ending August 2025). The Zacks Consensus Estimate for the current-quarter, current-year and next-year earnings has improved over the last 60 days.
Tremendous Price Upside Potential for MU Shares
Micron Technology has provided a negative return of 4.4% in the past month. At present, the short-term average price target of brokerage firms for the stock represents a jump of 85.3% from the last closing price of $90.65. The brokerage target price is currently in the range of $100-$225.
Amphenol Corp.
Zacks Rank #2 Amphenol witnessed strong order growth in second-quarter 2024 resulting in a strong book-to-bill ratio of 1.12:1. Acquisitions are helping APH expand its position across a broad array of technologies and markets. APH’s wide array of interconnect and sensor products boosts long-term prospects.
APH’s diversified business model lowers the volatility of individual end markets and geographies. Strong cash flow generating ability is noteworthy. APH expects to deliver strong cash flow despite a slight rise in capital expenditure as it increases spending on defense and IT datacom markets.
Solid Earnings Estimate Revisions for APH Stock
Amphenol has an expected revenue and earnings growth rate of 15.7% and 16.6%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, current-year and next-year earnings has improved over the last 60 days.
Impressive Price Upside Potential for APH Shares
Amphenol has provided a negative return of 1.6% in the past month. At present, the short-term average price target of brokerage firms for the stock represents an increase of 20.8% from the last closing price of $62.06. The brokerage target price is currently in the range of $60-$82.
Arista Networks Inc.
Zacks Rank #2 Arista Networks is likely to benefit from a software-driven, data-centric approach that helps customers build their cloud architecture. Innovative product launches and steady customer additions backed by ANET’s best-in-class portfolio strength have ensured steady top-line expansion.
ANET provides routing and switching platforms with industry-leading capacity, low latency, port density and power efficiency. In addition to high capacity and easy availability, ANET’s cloud networking solutions promise predictable performance along with programmability that enables seamless integration with third-party applications for network management, automation and orchestration.
Robust Earnings Estimate Revisions for ANET Stock
Arista Networks has an expected revenue and earnings growth rate of 16.1% and 18.7%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, next-quarter, current-year and next-year earnings has improved over the last 60 days.
Impressive Price Upside Potential for ANET Shares
The stock price of Arista Networks has provided a mere 1.4% in the past month. At present, the short-term average price target of brokerage firms for the stock represents an increase of 10.4% from the last closing price of $342.93. The brokerage target price is currently in the range of $265-$432.
Spotify Technology S.A.
Zacks Rank #1 Spotify Technology provides audio streaming services worldwide. SPOT operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. SPOT also offers sales, distribution and marketing, contract research and development, and customer support services.
SPOT Stock’s Earnings Estimate Revisions on the Rise
Spotify Technology has an expected revenue and earnings growth rate of 19.4% and more than 100%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, next-quarter, current-year and next-year earnings has improved over the last 60 days.
Solid Price Upside Potential for SPOT Shares
Spotify Technology has provided a negative return of 1% in the past month. At present, the short-term average price target of brokerage firms for the stock represents an increase of 15% from the last closing price of $336.66. The brokerage target price is currently in the range of $225-$460.
Datadog Inc.
Zacks Rank #2 Datadog is benefiting from new customer additions and increased adoption of its cloud-based monitoring and analytics platform, driven by accelerated digital transformation and cloud migration across organizations. DDOG’s solid adoption of Synthetics and Network Performance Monitoring products is expected to aid customer wins in the near term.
Contributions from a solid cloud partner base, including Google Cloud, Microsoft Azure and Amazon Web Services, remain a key growth driver for DDOG besides an expanding portfolio. Considering the abovementioned factors, we expect 2024 net sales to increase 22% from 2023.
Strong Earnings Estimate Revisions for DDOG Stock
Datadog has an expected revenue and earnings growth rate of 23.4% and 23.5%, respectively, for the current year. The Zacks Consensus Estimate for the current-quarter, current-year and next-year earnings has improved over the last 60 days.
Attractive Price Upside Potential for DDOG Shares
Datadog has provided a negative return of 2.4% in the past month. At present, the short-term average price target of brokerage firms for the stock represents a surge of 33.1% from the last closing price of $109.52. The brokerage target price is currently in the range of $98-$160.
Zacks Investment Research
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