Guggenheim Reaffirms “Sell” Rating for Datadog (NASDAQ:DDOG)

Guggenheim reissued their sell rating on shares of Datadog (NASDAQ:DDOG) in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a $105.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Scotiabank set a $130.00 target price on shares of Datadog and gave the stock an “outperform” rating in a report on Wednesday, May 7th. BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Wolfe Research upgraded shares of Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research note on Thursday, June 12th. Needham & Company LLC set a $140.00 price objective on shares of Datadog and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $119.00 price target on shares of Datadog in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.60.

Datadog Price Performance

DDOG stock opened at $145.94 on Tuesday. The stock has a market capitalization of $50.40 billion, a PE ratio of 317.27, a price-to-earnings-growth ratio of 84.31 and a beta of 1.03. The company’s 50-day moving average is $121.89 and its 200-day moving average is $120.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08.

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

Insiders Place Their Bets

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $120.86, for a total transaction of $956,727.76. Following the completion of the transaction, the director directly owned 388,205 shares of the company’s stock, valued at approximately $46,918,456.30. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 23,058 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the sale, the director owned 31,298 shares of the company’s stock, valued at approximately $4,095,969.26. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,882 shares of company stock valued at $100,101,477 over the last three months. 8.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in Datadog by 5.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after buying an additional 92 shares during the period. Emerald Advisers LLC lifted its holdings in Datadog by 1.1% in the 1st quarter. Emerald Advisers LLC now owns 9,300 shares of the company’s stock worth $923,000 after buying an additional 97 shares during the period. YANKCOM Partnership lifted its holdings in Datadog by 12.0% in the 1st quarter. YANKCOM Partnership now owns 927 shares of the company’s stock worth $92,000 after buying an additional 99 shares during the period. SageView Advisory Group LLC lifted its holdings in Datadog by 4.9% in the 4th quarter. SageView Advisory Group LLC now owns 2,176 shares of the company’s stock worth $311,000 after buying an additional 101 shares during the period. Finally, Covestor Ltd lifted its holdings in Datadog by 8.9% in the 1st quarter. Covestor Ltd now owns 1,388 shares of the company’s stock worth $138,000 after buying an additional 113 shares during the period. 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.