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Datadog plummets after results as Q4 forecast disappoints

By Reuters News

** Shares of cloud security firm Datadog DDOG.O plummet 17.5% to $182 premarket

** Q3 revenue rose 35% to $1.20 billion, surpassing estimates of $1.15 billion, according to data compiled by LSEG

** Adjusted EPS of 81 cents also beat estimates of 65 cents

** However, co's Q4 revenue forecast of $1.2 billion implies just a $3 million increase quarter-over-quarter, in line with analyst expectations, according to TD Cowen

** Investors also looking at high-spending customer usage declines as co added 140 new high spenders vs 170 in previous quarter, TD Cowen says

** Average rating of 32 of 49 analysts is "buy" with 14 analysts recommending "strong buy", 2 "hold" and 1 "sell"; their median PT is $300 - data compiled by LSEG

** Up to last close, stock has risen 62.16% YTD

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