Datadog (NASDAQ:DDOG) Rating Reiterated by Wedbush

Datadog (NASDAQ:DDOG)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a note issued to investors on Monday, Benzinga reports. They presently have a $155.00 target price on the stock. Wedbush’s target price indicates a potential upside of 24.73% from the company’s previous close.

Several other analysts also recently weighed in on DDOG. Barclays lifted their target price on Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Needham & Company LLC lifted their target price on Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada lifted their target price on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird lifted their target price on Datadog from $120.00 to $130.00 and gave the company a “neutral” rating 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.04.

Datadog Trading Down 0.9 %

NASDAQ:DDOG opened at $124.27 on Monday. Datadog has a 12-month low of $70.00 and a 12-month high of $138.61. The firm has a market capitalization of $41.24 billion, a P/E ratio of 1,035.58 and a beta of 1.14. 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 business has a 50 day simple moving average of $124.99 and a 200 day simple moving average of $118.69.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts predict that Datadog will post -0.14 EPS for the current year.

Insider Activity

In other news, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now owns 299,075 shares in the company, valued at $38,825,916.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the business’s 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 transaction, the chief executive officer now owns 299,075 shares in the company, valued at $38,825,916.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 759,908 shares of company stock worth $97,728,997. 11.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Datadog during the 4th quarter worth about $384,986,000. Massachusetts Financial Services Co. MA acquired a new position in Datadog in the 3rd quarter valued at approximately $189,668,000. Alkeon Capital Management LLC acquired a new position in Datadog in the 3rd quarter valued at approximately $127,526,000. Vanguard Group Inc. raised its holdings in Datadog by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after acquiring an additional 1,191,742 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Datadog by 47.9% in the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after acquiring an additional 848,000 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.