Shares of Datadog Inc. were tanking 20% in Tuesday’s premarket trading after the software company, which provides observability and security solutions for cloud applications, fell short of its revenue forecast for the balance of the year.
Looking... Shares of Datadog Inc. were tanking 20% in Tuesday’s premarket trading after the software company, which provides observability and security solutions for cloud applications, fell short of its revenue forecast for the balance of the year. Looking at the full year, executives at Datadog anticipate $2.05 billion to $2.06 billion in revenue and $1.30 to $1.34 in adjusted EPS. Analysts had been looking for $2.24 billion in revenue, along with $1.18 in adjusted EPS.While Datadog came up shy with its revenue forecasting, it topped expectations in the just-completed period. The company posted a second-quarter net loss of $4.0 million, or 1 cent a share, compared with a loss of $4.