Datadog (NASDAQ:DDOG) Price Target Raised to $175.00

Datadog (NASDAQ:DDOG) had its price target lifted by Bank of America from $150.00 to $175.00 in a report published on Monday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other analysts also recently weighed in on DDOG. Truist Financial dropped their price objective on Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Stifel Nicolaus boosted their target price on Datadog from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, June 26th. Barclays raised their price target on shares of Datadog from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.60.

Datadog Trading Down 2.2%

Shares of Datadog stock opened at $142.75 on Monday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a market capitalization of $49.30 billion, a price-to-earnings ratio of 310.33, a PEG ratio of 80.73 and a beta of 1.03. The firm’s 50-day moving average price is $122.70 and its two-hundred day moving average price is $121.06.

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

Insider Transactions at Datadog

In related news, CFO David M. Obstler sold 35,016 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the sale, the chief financial officer owned 399,270 shares in the company, valued at $46,874,298. This represents a 8.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 47,306 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at approximately $2,735,263.20. This trade represents a 65.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 833,882 shares of company stock worth $100,101,477. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Datadog

Large investors have recently bought and sold shares of the stock. Biltmore Wealth Management LLC grew its stake in shares of Datadog by 1.5% in the 2nd quarter. Biltmore Wealth Management LLC now owns 5,726 shares of the company’s stock valued at $769,000 after buying an additional 86 shares during the period. Farther Finance Advisors LLC boosted 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 acquiring an additional 92 shares in the last quarter. Emerald Advisers LLC grew its stake in Datadog by 1.1% in the first quarter. Emerald Advisers LLC now owns 9,300 shares of the company’s stock valued at $923,000 after acquiring an additional 97 shares during the period. YANKCOM Partnership increased its holdings in shares of Datadog by 12.0% during the first quarter. YANKCOM Partnership now owns 927 shares of the company’s stock valued at $92,000 after acquiring an additional 99 shares in the last quarter. Finally, SageView Advisory Group LLC raised its position in shares of Datadog by 4.9% during the fourth quarter. SageView Advisory Group LLC now owns 2,176 shares of the company’s stock worth $311,000 after purchasing an additional 101 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.