Datadog (NASDAQ:DDOG) Given New $130.00 Price Target at Needham & Company LLC

Datadog (NASDAQ:DDOG) had its price target reduced by equities research analysts at Needham & Company LLC from $160.00 to $130.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 22.57% from the stock’s previous close.

A number of other equities research analysts also recently commented on DDOG. Barclays boosted their target price on Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group decreased their price objective on Datadog from $164.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald assumed coverage on Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price for the company. Truist Financial reduced their price target on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price objective (down previously from $150.00) on shares of Datadog in a research report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.18.

Datadog Price Performance

Shares of DDOG opened at $106.06 on Wednesday. The firm has a market cap of $36.35 billion, a P/E ratio of 207.96, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a 50 day simple moving average of $100.64 and a two-hundred day simple moving average of $126.18.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. On average, sell-side analysts anticipate that Datadog will post 0.34 earnings per share for the current year.

Insider Activity

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now directly owns 82,324 shares in the company, valued at $9,538,058.64. This represents a 10.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. This trade represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,456 shares of company stock worth $39,018,715. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds have recently bought and sold shares of the stock. Groupama Asset Managment lifted its stake in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after purchasing an additional 3,993,707 shares in the last quarter. Norges Bank purchased a new stake in shares of Datadog during the fourth quarter valued at about $462,910,000. Jennison Associates LLC boosted its holdings in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after buying an additional 2,654,512 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.