Rosenblatt Securities Reaffirms “Buy” Rating for Datadog (NASDAQ:DDOG)

Rosenblatt Securities reissued their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $146.00 target price on the stock.

DDOG has been the subject of a number of other reports. William Blair reiterated an outperform rating on shares of Datadog in a report on Friday, February 16th. Needham & Company LLC increased their target price on shares of Datadog from $125.00 to $165.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Canaccord Genuity Group reiterated a buy rating and issued a $150.00 price target on shares of Datadog in a research note on Friday, February 23rd. Citigroup boosted their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a buy rating in a research report on Monday, January 22nd. 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 report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $135.58.

Datadog Trading Down 1.2 %

NASDAQ:DDOG opened at $115.87 on Monday. 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’s 50-day simple moving average is $124.30 and its 200-day simple moving average is $119.14. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The stock has a market capitalization of $38.45 billion, a PE ratio of 965.58 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business’s revenue 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. Sell-side analysts expect that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the completion of the sale, the insider now owns 100,053 shares in the company, valued at approximately $11,343,008.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, insider Madre Armelle De sold 300 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the transaction, the insider now owns 100,053 shares in the company, valued at approximately $11,343,008.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction 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 sale, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 712,530 shares of company stock worth $91,195,791. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Datadog during the 3rd quarter worth $189,668,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Datadog during the 3rd quarter valued at approximately $270,000. Mengis Capital Management Inc. acquired a new position in Datadog during the 3rd quarter worth approximately $409,000. Bank of New York Mellon Corp lifted its stake in Datadog by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock valued at $125,571,000 after purchasing an additional 33,748 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Datadog in the fourth quarter valued at approximately $2,913,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.