Datadog (NASDAQ:DDOG) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Datadog (NASDAQ:DDOG) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Datadog Inc. provides monitoring services for cloud-scale applications which includes monitoring of servers, databases, tools and services, through a SaaS-based data analytics platform. Datadog Inc. is based in New York. “

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of Datadog in a research report on Monday, October 14th. They set an overweight rating and a $45.00 target price for the company. Stifel Nicolaus increased their target price on shares of Datadog from $40.00 to $43.00 and gave the stock a buy rating in a research report on Wednesday, November 13th. Goldman Sachs Group began coverage on shares of Datadog in a research report on Monday, October 14th. They set a neutral rating and a $33.00 target price for the company. William Blair reiterated a buy rating on shares of Datadog in a research report on Wednesday, November 13th. Finally, Rosenblatt Securities began coverage on shares of Datadog in a research report on Wednesday, December 18th. They set a buy rating and a $50.00 target price for the company. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Datadog presently has an average rating of Hold and an average price target of $41.80.

Shares of Datadog stock opened at $39.27 on Tuesday. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $38.22. Datadog has a 12-month low of $27.55 and a 12-month high of $44.09.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.14. The firm had revenue of $95.86 million for the quarter, compared to analyst estimates of $84.72 million. As a group, equities research analysts forecast that Datadog will post -0.2 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of DDOG. California State Teachers Retirement System bought a new stake in Datadog during the 3rd quarter worth about $34,000. FNY Investment Advisers LLC bought a new stake in Datadog during the 3rd quarter worth about $161,000. Price Wealth LLC bought a new stake in Datadog during the 3rd quarter worth about $178,000. SG Americas Securities LLC bought a new stake in Datadog during the 3rd quarter worth about $196,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Datadog during the 3rd quarter worth about $383,000. 33.12% of the stock is currently owned by hedge funds and other institutional investors.

About Datadog

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.

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