TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

<ul>
<li>Revenue grew 69% YoY to $78M vs. consensus at $70M (+52%), with very impressive underlying growth metrics that show the larger customers are the fastest growing.</li>
<li>Increased selling through hyperscaler partners may aid S&amp;M leverage over time. </li>
<li>Acquisition of Opstrace accelerates the platform expansion into observability, but right now positioned vs. nonconsumption rather than against Datadog.</li>
</ul>


Revenue grew 69% YoY to $78M vs. consensus at $70M (+52%), with very impressive underlying growth metrics that show the larger customers are the fastest growing.
Increased selling through hyperscaler partners may aid S&amp;M leverage over time. 
Acquisition of Opstrace accelerates the platform expansion into observability, but right now positioned vs. nonconsumption rather than against Datadog.


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 Capital Markets

<ul><li>Like most high-growth stocks, Datadog has also been going through rough patch on account of the rising interest rates and the geopolitical tensions though its fundamentals remain intact.</li><li>Its revenue increased by 84% year over year and 21% quarter over quarter to $326 million and business growth from existing customers exceeded the management's expectations.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Like most high-growth stocks, Datadog has also been going through rough patch on account of the rising interest rates and the geopolitical tensions though its fundamentals remain intact.Its revenue increased by 84% year over year and 21% quarter over quarter to $326 million and business growth from existing customers exceeded the management's expectations.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Datadog Inc.: Financial & Price Forecasts

<ul>
<li>Gitlab is down 61% since its IPO and trades at 16x forward sales, now reasonable for years of 40% like growth expected.</li>
<li>At $6B valuation, would make an attractive acquisition candidate for Google/Amazon or some of the growing DevSecOps players like Datadog.</li>
<li>Dynamic TAM with long runway ahead, very underpenetrated, strong secular tailwinds.</li>
</ul>


Gitlab is down 61% since its IPO and trades at 16x forward sales, now reasonable for years of 40% like growth expected.
At $6B valuation, would make an attractive acquisition candidate for Google/Amazon or some of the growing DevSecOps players like Datadog.
Dynamic TAM with long runway ahead, very underpenetrated, strong secular tailwinds.


US Tech Company Research, MT Capital

MT Capital

US Tech Company Research

I demystify the world's most interesting tech companies, providing in-depth, no-nonsense, un-biased analysis on the most interesting Tech Companies available for investment today. I am a Mechanical Engineer by education, Software Engineer by trade and a self-trained Financial Analyst.

<ul><li>The origin story of the company I am delving into today arguably started more than 10 years ago, when Oliver Pomel and his co-founder Alexis Lê-Quôc were working at Wireless Generation</li><li>The company is likely to benefit from the continued digital transformation, mainly spurred by further cloud penetration</li><li>Observability and IT Operations Management is a significant opportunity for Datadog to capitalize on</li></ul>

The origin story of the company I am delving into today arguably started more than 10 years ago, when Oliver Pomel and his co-founder Alexis Lê-Quôc were working at Wireless GenerationThe company is likely to benefit from the continued digital transformation, mainly spurred by further cloud penetrationObservability and IT Operations Management is a significant opportunity for Datadog to capitalize on

Datadog ($DDOG): The Dog in the SaaS Fight

<ul><li>DataDog was one of the many pricey SaaS players that recently went through a minor correction after increasing investor fears associated with rising interest rates.</li><li>These customers accounted for roughly 80% of the company’s ARR which is a good sign as its focus is on high-value clients.</li><li>While we are optimistic about Datadog's future, we believe its current valuation is still pricey despite the recent correction, which is why we give it a 'Hold' rating.</li></ul>

DataDog was one of the many pricey SaaS players that recently went through a minor correction after increasing investor fears associated with rising interest rates.These customers accounted for roughly 80% of the company’s ARR which is a good sign as its focus is on high-value clients.While we are optimistic about Datadog's future, we believe its current valuation is still pricey despite the recent correction, which is why we give it a 'Hold' rating.

DataDog: A Hyper-Growth SaaS Stock (12/2021)

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)

Gitlab 4Q22 Earnings: Impressive

Gitlab's 4Q22 earnings were impressive. Despite still in heavy loss mode, its best in class NRR and an accelerating adoption of higher priced tiers...

Aaron Gabin

Datadog Inc.: Financial & Price Forecasts

Like most high-growth stocks, Datadog has also been going through rough patch on account of the rising interest rates and the geopolitical...

Baptista Research

Recent IPO Insights: Gitlab

Gitlab is down 61% since its IPO and trades at 16x forward sales, reasonable for 40% like growth expected. At $6B , would be acquisition candidate...

Aaron Gabin

Datadog ($DDOG): The Dog in the SaaS Fight

The origin story of the company I am delving into today arguably started more than 10 years ago, when Oliver Pomel and his co-founder Alexis Lê...

MT Capital

DataDog: A Hyper-Growth SaaS Stock (12/2021)

DataDog was one of the many pricey SaaS players that recently went through a minor correction after increasing investor fears associated with...

Baptista Research

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