Datadog to Raise $870 Million Via Convertible Debt, Aims for Corporate Expansion and Debt Repurchase
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2024
0mins
Source: Benzinga
Datadog's Convertible Notes Offering: Datadog, Inc. announced an upsized private placement of $870 million in 0% Convertible Senior Notes due 2029, with net proceeds expected to be approximately $851.6 million, which will be used for capped call transactions, repurchasing existing notes, and general corporate purposes.
Financial Performance and Stock Movement: The company reported a 26% growth in fiscal third-quarter revenue, exceeding analyst estimates, and anticipates fourth-quarter revenue above consensus. Despite a year-to-date stock gain of over 40%, DDOG stock was down 1.11% at $159.30 as of the latest check.
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Analyst Views on DDOG
Wall Street analysts forecast DDOG stock price to fall
33 Analyst Rating
30 Buy
3 Hold
0 Sell
Strong Buy
Current: 231.110
Low
140.00
Averages
207.39
High
255.00
Current: 231.110
Low
140.00
Averages
207.39
High
255.00
About DDOG
Datadog Inc provides an AI-powered observability and security platform for cloud applications. Its Software as a Service (SaaS) platform integrates and automates infrastructure monitoring, application performance monitoring, log management, user experience monitoring, cloud security and service management. Its proprietary platform combines the power of metrics, traces, logs, user sessions, security signals, and other data from a single agent and over 1,000 integrations to provide a unified view of infrastructure, application performance and real-time events impacting performance. Its solutions include built for dynamic cloud and hybrid infrastructures, simple but not simplistic, integrated data platform, built for collaboration, cloud-agnostic, ubiquitous, and integrates with its customers complex environments. Its platform is used by industries to enable digital transformation and cloud migration, and drive collaboration among development, operations, security and business teams.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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