Datadog (NASDAQ:DDOG) Shares Gap Up to $122.07

Datadog, Inc. (NASDAQ:DDOG)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $122.07, but opened at $125.50. Datadog shares last traded at $127.21, with a volume of 928,023 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DDOG shares. Wolfe Research boosted their target price on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Barclays boosted their price target on Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. William Blair reaffirmed an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Truist Financial boosted their target price on shares of Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.70.

Datadog Trading Up 3.9 %

The firm has a market capitalization of $42.08 billion, a P/E ratio of 1,017.25 and a beta of 1.16. The business’s 50 day moving average is $125.63 and its two-hundred day moving average is $116.37. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. Datadog’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. Analysts expect that Datadog, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling

In other Datadog news, President Amit Agarwal sold 33,311 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now owns 294,012 shares in the company, valued at approximately $37,804,062.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Datadog news, President Amit Agarwal sold 33,311 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now directly owns 294,012 shares of the company’s stock, valued at approximately $37,804,062.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 745,984 shares of company stock valued at $95,917,681. Company insiders own 14.97% of the company’s stock.

Institutional Investors Weigh In On Datadog

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Datadog in the fourth quarter worth about $384,986,000. Massachusetts Financial Services Co. MA acquired a new stake in Datadog in the 3rd quarter worth approximately $189,668,000. Alkeon Capital Management LLC bought a new stake in Datadog during the third quarter worth approximately $127,526,000. Vanguard Group Inc. grew its holdings in Datadog by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after purchasing an additional 1,191,742 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.