Financial PerformanceDatadog's 3Q:24 key metrics were mixed, with deferred revenue and calculated billings falling short of estimates.
Revenue GrowthThe AI Hustle of 2023 has led to a revenue wasteland in 2024, with software spending under greater scrutiny.
Valuation ConcernsDatadog trades at one of the richest valuations in the coverage on a CY25E EV/revenue basis at 12.0x, second only to ServiceNow, indicating shares are fairly valued at current levels.