Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Datadog reported a strong financial performance in Q3 2025, marked by significant revenue growth and a substantial increase in customer adoption.</li><li>The company's revenue reached $886 million, reflecting a 28% increase year-over-year, driven by robust customer acquisition and expansion among existing clients.</li><li>Notably, new logo annualized bookings more than doubled year-over-year, indicating growing interest and adoption of Datadog's platform.</li></ul>

Datadog reported a strong financial performance in Q3 2025, marked by significant revenue growth and a substantial increase in customer adoption.The company's revenue reached $886 million, reflecting a 28% increase year-over-year, driven by robust customer acquisition and expansion among existing clients.Notably, new logo annualized bookings more than doubled year-over-year, indicating growing interest and adoption of Datadog's platform.

Datadog Inside the Security Surge: Can Unified Observability + Security Redefine the Entire Market?

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>
<a href="https://smartkarma.com/entities/datadog-inc">Datadog </a>is a market-leading observability platform for cloud-scale applications, providing a unified, real-time view of a company's entire technology stack. Its strong growth is driven by secular tailwinds of cloud migration and digital transformation.</li>
 <li>The company exhibits a powerful financial profile, characterized by high revenue growth, a recurring subscription-based model, and improving profitability and free cash flow. The 'land-and-expand' strategy has proven highly effective, with a strong net revenue retention rate.</li>
 <li>While the company's strategic position and growth are compelling, its shares trade at a significant premium valuation. Key risks include intense competition from both specialized vendors and large cloud providers, and the stock's sensitivity to macroeconomic shifts impacting IT spending.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Datadog is a market-leading observability platform for cloud-scale applications, providing a unified, real-time view of a company's entire technology stack. Its strong growth is driven by secular tailwinds of cloud migration and digital transformation.
  The company exhibits a powerful financial profile, characterized by high revenue growth, a recurring subscription-based model, and improving profitability and free cash flow. The 'land-and-expand' strategy has proven highly effective, with a strong net revenue retention rate.
  While the company's strategic position and growth are compelling, its shares trade at a significant premium valuation. Key risks include intense competition from both specialized vendors and large cloud providers, and the stock's sensitivity to macroeconomic shifts impacting IT spending.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Datadog (DDOG US) released (6 Nov HKT) its 3Q25 results: total revenue was US$886mn, up 28% YoY (3Q24: 26%; 2Q25: 28%), 4% better than both our forecast and Bloomberg consensus, driven by strong demand from AI-native customers, and acceleration in revenue growth from non-AI customers; nonGAAP net income after tax adjustment was US$197.4mn, up 19% YoY, and was 23/18% better than our forecast/consensus, driven by better-than-expected unleashing of operating leverage aided by solid revenue growth and ramp-up in sales efficiency.</li><li>We lift 2025-2027E revenue forecast by 2-3% to account for better-than-expected acceleration in revenue growth from non-AI native customers which in our view could sustain, and raise non-GAAP net profit forecast by 9-11% to factor in better-than-expected operating efficiency gains.</li><li>We roll over our valuation window to 2026E, and lift our TP by 26% to US$203.7 based on 16.6x 2026E EV/sales, inline with two-year average plus one s.d. (was 16.5x). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Datadog (DDOG US) released (6 Nov HKT) its 3Q25 results: total revenue was US$886mn, up 28% YoY (3Q24: 26%; 2Q25: 28%), 4% better than both our forecast and Bloomberg consensus, driven by strong demand from AI-native customers, and acceleration in revenue growth from non-AI customers; nonGAAP net income after tax adjustment was US$197.4mn, up 19% YoY, and was 23/18% better than our forecast/consensus, driven by better-than-expected unleashing of operating leverage aided by solid revenue growth and ramp-up in sales efficiency.We lift 2025-2027E revenue forecast by 2-3% to account for better-than-expected acceleration in revenue growth from non-AI native customers which in our view could sustain, and raise non-GAAP net profit forecast by 9-11% to factor in better-than-expected operating efficiency gains.We roll over our valuation window to 2026E, and lift our TP by 26% to US$203.7 based on 16.6x 2026E EV/sales, inline with two-year average plus one s.d. (was 16.5x). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Datadog (DDOG US) - Strong Results with Upbeat Outlook...

<ul><li>Datadog reported its financial results for the second quarter of 2025, delivering a robust performance marked by significant growth metrics.</li><li>The company's revenue increased to $827 million, a year-over-year rise of 28%, surpassing the high end of its guidance range.</li><li>This growth was driven by higher-than-expected usage from existing customers and strong contributions from AI native cohorts.</li></ul>

Datadog reported its financial results for the second quarter of 2025, delivering a robust performance marked by significant growth metrics.The company's revenue increased to $827 million, a year-over-year rise of 28%, surpassing the high end of its guidance range.This growth was driven by higher-than-expected usage from existing customers and strong contributions from AI native cohorts.

Datadog Crosses $100 Million in Security Revenues: Why We Think This Just The Beginning!

<ul><li>Datadog (DDOG US) released (7 Aug HKT) 2Q25 results: total revenue was US$826.8mn, up 28% YoY (2Q24: 27%; 1Q25: 25%), 5% better than both our forecast and Bloomberg consensus forecast.</li><li>During the period, non-GAAP net income after tax adjustment was US$163.8mn, up 7% YoY, and was 11/10% better than our forecast/consensus, driven by the beat in revenue, and betterthan-expected operating efficiency gains.</li><li>We lift our 2025-2027E revenue forecasts by 3-4% to account for better-than-expected usage growth and stronger-than-expected ramp-up in revenue generation of AI native customers, and raise non-GAAP net profit forecasts by 6-7% to factor in better-thanexpected operating efficiency gains. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Datadog (DDOG US) released (7 Aug HKT) 2Q25 results: total revenue was US$826.8mn, up 28% YoY (2Q24: 27%; 1Q25: 25%), 5% better than both our forecast and Bloomberg consensus forecast.During the period, non-GAAP net income after tax adjustment was US$163.8mn, up 7% YoY, and was 11/10% better than our forecast/consensus, driven by the beat in revenue, and betterthan-expected operating efficiency gains.We lift our 2025-2027E revenue forecasts by 3-4% to account for better-than-expected usage growth and stronger-than-expected ramp-up in revenue generation of AI native customers, and raise non-GAAP net profit forecasts by 6-7% to factor in better-thanexpected operating efficiency gains. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Datadog (DDOG US) - Solid 2Q Results with Better-Than-Expected Operating Efficiency Gains

United States

Datadog, Inc. provides software solutions. The Company offers cloud-based monitoring and analytics platform which integrates and automates infrastructure monitoring, application performance monitoring, and log management for real-time observability of customers. Datadog operates worldwide.

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Datadog (DDOG US)

Datadog Inside the Security Surge: Can Unified Observability + Security Redefine the Entire Market?

Datadog reported a strong financial performance in Q3 2025, marked by significant revenue growth and a substantial increase in customer...

Baptista Research

Primer: Datadog (DDOG US) - Dec 2025

Datadog is a market-leading observability platform for cloud-scale applications, providing a unified, real-time view of a company's entire...

αSK

Datadog (DDOG US) - Strong Results with Upbeat Outlook...

Datadog (DDOG US) released (6 Nov HKT) its 3Q25 results: total revenue was US$886mn, up 28% YoY (3Q24: 26%; 2Q25: 28%), 4% better than both our...

CMB International

Datadog Crosses $100 Million in Security Revenues: Why We Think This Just The Beginning!

Datadog reported its financial results for the second quarter of 2025, delivering a robust performance marked by significant growth metrics. The...

Baptista Research

Datadog (DDOG US) - Solid 2Q Results with Better-Than-Expected Operating Efficiency Gains

Datadog (DDOG US) released (7 Aug HKT) 2Q25 results: total revenue was US$826.8mn, up 28% YoY (2Q24: 27%; 1Q25: 25%), 5% better than both our...

CMB International

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