Datadog (NASDAQ:DDOG) Price Target Raised to $150.00

Datadog (NASDAQ:DDOG) had its price objective upped by Bank of America from $138.00 to $150.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on DDOG. Wolfe Research upgraded Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Thursday, June 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $134.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. BTIG Research set a $136.00 price objective on Datadog and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Canaccord Genuity Group lowered their price objective on Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Datadog in a research report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.52.

Datadog Stock Down 2.0%

DDOG opened at $127.50 on Wednesday. Datadog has a 1-year low of $81.63 and a 1-year high of $170.08. The stock’s fifty day simple moving average is $111.36 and its 200 day simple moving average is $122.65. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The stock has a market cap of $44.03 billion, a PE ratio of 277.18, a price-to-earnings-growth ratio of 72.08 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. As a group, research analysts expect that Datadog will post 0.34 earnings per share for the current year.

Insider Activity

In other news, CFO David M. Obstler sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $125.25, for a total transaction of $2,505,000.00. Following the completion of the transaction, the chief financial officer now directly owns 399,270 shares in the company, valued at $50,008,567.50. This trade represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Blitzer sold 15,603 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $1,823,054.52. Following the transaction, the chief operating officer now owns 212,969 shares of the company’s stock, valued at $24,883,297.96. This trade represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 762,966 shares of company stock valued at $85,558,325. 8.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently made changes to their positions in DDOG. Allworth Financial LP increased its holdings in Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after purchasing an additional 92 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after purchasing an additional 94 shares in the last quarter. Emerald Advisers LLC increased its holdings in Datadog by 1.1% in the first quarter. Emerald Advisers LLC now owns 9,300 shares of the company’s stock worth $923,000 after purchasing an additional 97 shares in the last quarter. Finally, YANKCOM Partnership increased its holdings in Datadog by 12.0% in the first quarter. YANKCOM Partnership now owns 927 shares of the company’s stock worth $92,000 after purchasing an additional 99 shares in the last quarter. 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.