Why Datto Shares Are Trading Higher Today

March 17, 2022 12:22 PM | 1 min read | Make a Comment

Software maker Datto Holding Corp MSP weighed strategic options, including a potential sale after receiving takeover interest from PE firms, Bloomberg reports.
Customers of Datto include small to midsize companies that buy its software for security, data recovery, and cloud backup.
Vista Equity Partners owned 69% of Datto’s shares as of December 31.
Datto reported revenue of $164.3 million in the fourth quarter of FY21, up 18% year-on-year, beating the consensus of $162.4 million. Subscription revenue rose 19% Y/Y to $153.2 million.
Datto sees Q1 revenue of $168 million - $169 million below the consensus of $169.24 million, FY22 revenue of $720 million - $726 million against the consensus of $722.38 million.
Price Action: MSP shares traded higher by 9.63% at $25.62 on the last check Thursday.