Wells Fargo & Company Upgrades Datadog (NASDAQ:DDOG) to “Overweight”

Wells Fargo & Company upgraded shares of Datadog (NASDAQ:DDOG) from an equal weight rating to an overweight rating in a report issued on Tuesday, MarketBeat reports. They currently have $150.00 price target on the stock, up from their prior price target of $130.00.

A number of other research analysts also recently weighed in on DDOG. Needham & Company LLC increased their target price on shares of Datadog from $125.00 to $165.00 and gave the company a buy rating in a research report on Tuesday, February 13th. Truist Financial raised their price objective on shares of Datadog from $140.00 to $155.00 and gave the stock a buy rating in a report on Wednesday, February 14th. William Blair reaffirmed an outperform rating on shares of Datadog in a report on Friday, February 16th. Mizuho raised their price objective on shares of Datadog from $108.00 to $130.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $152.00 price objective on shares of Datadog in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Datadog currently has a consensus rating of Moderate Buy and an average price target of $131.70.

Datadog Stock Up 5.0 %

Shares of DDOG opened at $131.45 on Tuesday. Datadog has a one year low of $63.00 and a one year high of $138.61. The company has a market cap of $43.62 billion, a P/E ratio of 1,095.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The firm has a 50 day simple moving average of $125.25 and a two-hundred day simple moving average of $117.01.

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

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares in the company, valued at approximately $38,825,916.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following 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 quarter, insiders sold 759,908 shares of company stock worth $97,728,997. 14.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in DDOG. Riverview Trust Co acquired a new stake in Datadog in the first quarter worth $26,000. Anchor Investment Management LLC acquired a new position in shares of Datadog during the fourth quarter valued at $25,000. Raleigh Capital Management Inc. acquired a new position in shares of Datadog during the fourth quarter valued at $29,000. Private Trust Co. NA boosted its stake in Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 223 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in Datadog during the fourth quarter valued at about $33,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

About Datadog

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.