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Datadog, Inc. (DDOG)

適正価値
TechnologySoftware - ApplicationUnited States

ファンダメンタル

62

株価

$273.85

時価総額

$92.25B

パート1 · 企業の価値

概要

Datadog sells a monitoring dashboard that lets engineering teams see, in one place, whether their applications, servers and cloud infrastructure are working correctly. Companies plug dozens of separate tools — servers, databases, cloud services, custom code, and now AI models in production — into it, and Datadog turns the resulting flood of logs and metrics into alerts and charts a human can actually understand and act on before something breaks for end users.

収益の仕組み

Nearly all revenue is subscription-based and billed largely on usage: the more servers, containers or log volume a customer sends through the platform, the more it pays, so revenue grows automatically as a customer's own infrastructure grows. Datadog does not break its revenue into product-line segments in its filings; growth instead comes mainly from selling more of its roughly 30 individual monitoring products into the same existing accounts, rather than from adding many brand-new logo customers.

競争優位性(moat)

スイッチングコスト · 狭い

Once engineering teams wire dozens of systems into Datadog's dashboards and build alerting rules around them, ripping it out and replicating that setup elsewhere is a multi-month project few teams choose to start voluntarily. That stickiness is real but not absolute: cloud providers bundle their own, cheaper monitoring tools, and large customers can and do run a rival platform alongside Datadog.

需要を左右する要因

中程度の景気循環性

Because billing tracks actual infrastructure usage, revenue rises and falls with how much computing a customer is running, not with a fixed contract size. In a slowdown, customers can cut cloud spend and Datadog's own usage-based bill shrinks with it, so growth is more exposed to the economic cycle than a flat-fee software subscription would be, though renewals themselves remain fairly sticky.

主なリスク

  • Usage-based revenue tracks customer cost-cutting — Because billing follows actual infrastructure usage, any effort by customers to optimize or reduce their cloud footprint shows up directly as slower revenue growth for Datadog, with little lag.
  • Concentration in an AI-native customer cohort — A newly disclosed group of AI-focused customers, including the company's largest single account, is contributing an outsized share of recent growth, making results more dependent on the spending patterns of a narrow set of buyers.
  • Competition from cloud providers' native tools — Amazon, Microsoft and Google each bundle their own monitoring tools with their cloud platforms at a lower incremental cost, giving price-sensitive customers a built-in alternative to Datadog.
  • Multi-product complexity and pricing pressure — Growth increasingly depends on selling additional modules into existing accounts; if customers resist consolidating spend onto more of Datadog's roughly 30 products, growth slows even where the core monitoring relationship stays intact.

顧客集中度

Datadog serves roughly 32,700 customers with no single one dominating revenue, but its latest filing separately flags a newly named 'AI-native' customer cohort — which it says includes its single largest customer — as an outsized driver of recent growth.

強気材料

Buyers argue that once a company's engineers build their daily workflow around Datadog's dashboards, the switching cost of leaving is high, that selling more of its roughly 30 products into the same accounts gives it years of runway without needing new customers, and that AI workloads are creating fresh, high-volume infrastructure to monitor.

弱気材料

Sellers fear that usage-based billing makes revenue unusually sensitive to customer cost-cutting, that cloud providers' bundled monitoring tools erode Datadog's pricing power over time, and that a growing reliance on a narrow cohort of AI-native customers concentrates risk in spending patterns Datadog does not control.

Written by the editors, published on 2026年8月18日

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 2026年9月18日 with claude-haiku-4-5 — shared with all users

P/E: 115.5Score: 73Market cap: $16.72B

Named by Datadog in its 10-K as an application performance monitoring rival, Dynatrace sells a unified observability platform to the same large enterprise IT and DevOps teams monitoring cloud applications.

P/E: 32.3Score: 76Market cap: $421.74B

Cisco owns Splunk and AppDynamics and is named by Datadog as a competitor in both log management and application performance monitoring, chasing the same enterprise observability budgets.

New Relic, Inc.Not tracked

New Relic, taken private by Francisco Partners and TPG in November 2023, offers an all-in-one SaaS observability suite (metrics, logs, traces) sold to the same software engineering teams Datadog targets.

Elastic N.V.ESTC

Cited by Datadog as a log management competitor, Elastic sells the Elastic Observability suite built on Elasticsearch to companies deciding where to store and search their application and infrastructure logs.

Grafana Labs, Inc.Not tracked

Grafana Labs monetises the open-source monitoring stack Datadog's 10-K flags as competition, selling Grafana Cloud and Grafana Enterprise to the same engineering teams weighing a cheaper, open-standards alternative.

貸借対照表と流動性

売上高

$3.97B

直近12か月(2026/6/30まで)

純利益

$178M

直近12か月(2026/6/30まで)

フリーキャッシュフロー

$1.00B

自己資本合計

$3.73B

負債合計

$2.91B

流動比率

3.20

利払い倍率

1.43

負債/EBITDA

264.72

一株当たり利益(EPS)

売上高と純利益

フリーキャッシュフロー

収益内訳

財務推移表

利益率の推移

負債の推移

負債の重さ

成長率グリッド

成長率 — 売上高

適正価値の推定

一般的なケース適正価値

適正価値

$245.07

現在株価

$273.85

安全マージン

-11.7%

適正価値レンジ

$159.29 - $330.84

使用した評価手法間のばらつきであり、統計的に較正された信頼区間ではありません。

推定方法

アナリストの目標株価:$285.28
ディスカウンテッド・キャッシュフロー(DCF):算出に必要なデータが不足しています
利益倍率(P/E):$44.01
グレアムの成長公式:$8.30
収益力価値(EPV):$0.27
正当化されたP/B:$2.12
配当割引モデル(ゴードン):算出に必要なデータが不足しています
P/FFO(運用から生まれる資金):算出に必要なデータが不足しています
中間サイクル利益:算出に必要なデータが不足しています
売上高倍率:$54.57
アナリスト・コンセンサス:強い買い (51B / 4H / 1S)
直近の決算サプライズ:+7.21%

バリュエーション指標

P/E レシオ

547.70

ROE

2.9%

P/B レシオ

-

P/FCF

0.00

粗利益率

79.5%

ROIC

0.2%

収益性レーダー

価値創造(経済的モート)

ROIC

0.2%

WACC

12.7%

ROIC − WACC

-12.4 pp

ROICが資本コストを下回っています。投資した1ドルごとに企業は価値を破壊しています。

ファンダメンタル分析基準

合格(16)

  • EPS shows upward trend
  • Price CAGR 31.10%
  • Gross Margin 79.5%
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Revenue Growth 5Y 41.5%
  • Analyst Consensus 91% Buy
  • Earnings Surprise avg 10.5%
  • Earnings Quality (OCF/NI) 6.92
  • Share Dilution -1.6%
  • Net Margin Trend 4.5% vs 4.1%
  • Piotroski F-Score 7/9

不合格(6)

  • ROIC 0.2%
  • Operating Margin 0.4%
  • Interest Coverage
  • Debt/EBITDA
  • DCF valuation (Unknown)
  • ROE 4.6%

データなし(5)

  • P/FCF 0.00
  • P/B Ratio NaN
  • Dividend Payout NaN%
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-スコア

7/9

財務健全性が高い

score
criteria

利益の質

6.92

高品質:利益はキャッシュに裏付けられている

株式希薄化

-1.6%

株式を買い戻している。株主に友好的

機関投資家の保有

ガバナンス

経営陣

氏名役職年齢
Mr. Olivier PomelCo-Founder, CEO & Director48
Mr. Alexis Le-QuocCo-Founder, CTO & Director50
Mr. David M. ObstlerChief Financial Officer65
Mr. Adam BlitzerChief Operating Officer44
Mr. Sean Michael WaltersChief Revenue Officer53
Ms. Kerry S. Acocella J.D.General Counsel & Secretary44
Ms. Sara VarniChief Marketing Officer-
Mr. David C. GalloreeseChief People Officer45
Mr. Emilio EscobarChief Information Security Officer-
Dr. Yanbing Li Ph.D.Chief Product Officer54

監査リスク

7

取締役会リスク

10

報酬リスク

9

株主権利リスク

10

パート2 · 株価と買い時

この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。

書類

  • 年次報告書(10-K)

    事業内容、財務実績、リスクをまとめた年次の概要。

    提出日: 2026-02-18

    書類を見る
  • 四半期報告書(10-Q)

    直近3か月間の業績に関する最新情報。

    提出日: 2026-08-06

    書類を見る
  • 臨時報告書(8-K)

    経営陣の交代や重要な発表など、大きな出来事に関するお知らせ。

    提出日: 2026-08-06

    書類を見る

via SEC EDGAR

業績推移

via SEC EDGAR

Latest News

Recent headlines for DDOG, sourced from Markets Gazette.

  • 8/24/2026POSITIVE
    Nasdaq-100® Inside the Index: Datadog (DDOG)

    Datadog (DDOG), a key component of the Nasdaq-100®, is highlighted for its robust performance and strategic positioning. The company's usage-based model, coupled with strong customer expansion, fuels its durable, software-driven growth. Furthermore, Datadog's increasing importance in AI infrastructure is noted, justifying the premium valuation investors place on its stock. This analysis suggests continued investor confidence in Datadog's business model and its future growth prospects, particularly within the expanding AI sector.

  • 8/6/2026NEGATIVE
    Datadog’s stock slides after earnings. This is what’s nagging at investors.

    Datadog's stock experienced a decline following its latest earnings report, despite beating analyst expectations. The company's performance, while positive, fell short of the significant beat seen in the previous quarter, failing to meet the elevated bar set by its strong year-to-date stock appreciation. This suggests that even meeting expectations may not be enough for investors who have priced in substantial future growth. The market's reaction indicates a potential shift in sentiment, where incremental positive news is no longer sufficient to sustain upward momentum, raising concerns about future growth catalysts.

  • 6/9/2026POSITIVE
    $100 Invested In Datadog 5 Years Ago Would Be Worth This Much Today

    An investment of $100 in Datadog Inc. five years prior to June 9, 2026, would have yielded a significant return, illustrating the company's strong growth trajectory and market performance. While specific figures are not provided in the summary, the implication of substantial appreciation suggests robust revenue growth, successful product innovation, and increasing market share in the cloud monitoring and security space. Investors who held Datadog stock during this period have likely benefited from its ability to capitalize on the expanding demand for observability solutions.

  • 5/28/2026POSITIVE
    This AI Stock Is Crushing Microsoft And Adobe In 2026 — JPMorgan Still Sees 43% Upside

    Datadog has significantly outperformed its peers in 2026, with its stock price surging nearly 66%, while Microsoft and Adobe have experienced declines. JPMorgan analysts maintain a positive outlook, identifying an additional 43% upside potential for the AI software company. This strong performance, coupled with continued analyst confidence, suggests robust underlying business momentum and potential for further growth, making it an attractive prospect for investors seeking exposure to the AI sector.

  • 5/8/2026POSITIVE
    These Analysts Boost Their Forecasts On Datadog After Upbeat Q1 Results

    Datadog Inc. (DDOG) has reported robust first-quarter financial results, surpassing both revenue and earnings per share estimates. Following this strong performance, several analysts have upgraded their price targets for the company's stock, signaling a positive outlook. This upward revision in analyst sentiment suggests increased confidence in Datadog's growth trajectory and its ability to execute its business strategy, potentially attracting further investor interest and supporting the stock's valuation.

  • 5/7/2026POSITIVE
    Datadog's AI Push Pays Off Big Time, Stock Jumps 30%

    Datadog's stock experienced a significant surge, climbing 30% following its Q1 earnings report. The company announced revenue of $1 billion, a substantial 32% increase year-over-year. This impressive performance was largely attributed to strong demand driven by its artificial intelligence initiatives. The company not only beat earnings expectations but also raised its 2026 guidance, signaling robust future growth prospects. Investors are likely to view this as a strong indicator of Datadog's successful AI strategy and its ability to capture market share in the cloud monitoring space.

  • 5/7/2026NEUTRAL
    Datadog Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

    Datadog is set to report its first-quarter earnings on May 7th, with Wall Street analysts projecting earnings per share of $0.51. The company's stock experienced a slight decline of 1.4% on Wednesday. While the upcoming earnings report is a key event, the provided information focuses on the anticipation of the print and recent analyst actions, without offering specific forward-looking guidance or performance metrics that would definitively sway investor sentiment in a positive or negative direction at this juncture. Investors await the actual results to gauge performance.

  • 3/10/2026NEUTRAL
    Datadog Stock: Down About 37% From Its 52-Week High, Is Now a Good Time to Buy Into This Fast-Growing Company?

    Datadog, a cloud monitoring specialist, has seen its stock price decline approximately 37% from its 52-week high. Despite this pullback, the company's revenue growth has recently accelerated. This juxtaposition presents a potential buying opportunity for investors interested in fast-growing tech companies, as the current valuation may offer an attractive entry point for a company demonstrating strong underlying business momentum.

  • 2/26/2026POSITIVE
    Datadog, Sakana AI Join Forces To Accelerate Enterprise AI Adoption

    Datadog, Inc. (DDOG) shares experienced a notable uplift following the announcement of a strategic partnership with Sakana AI. This collaboration is set to accelerate enterprise AI adoption by enhancing innovation and observability capabilities. For investors, this agreement signals a strengthening of Datadog's position within the rapidly expanding AI and data analytics sector. The integration of Sakana AI's technologies could significantly broaden Datadog's product offerings, making it more competitive and appealing to an increasingly AI-focused enterprise client base. This development is crucial as it positions Datadog as a key enabler for businesses looking to fully leverage artificial intelligence, promising potential long-term benefits for revenue growth and market share.

via Markets Gazette