Datadog (NASDAQ:DDOG) Price Target Raised to $185.00

Datadog (NASDAQ:DDOG) had its price target lifted by Canaccord Genuity Group from $160.00 to $185.00 in a research report released on Monday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently commented on DDOG. Barclays set a $170.00 target price on Datadog and gave the company an “overweight” rating in a research note on Thursday, August 7th. DA Davidson boosted their price objective on shares of Datadog from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Datadog in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $175.00 price target on shares of Datadog in a research note on Thursday, August 14th. Finally, Wells Fargo & Company started coverage on shares of Datadog in a research report on Tuesday, September 30th. They set an “overweight” rating and a $190.00 price target on the stock. Twenty-six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell 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 $166.10.

Datadog Price Performance

DDOG stock opened at $154.98 on Monday. The stock has a 50-day moving average price of $147.78 and a two-hundred day moving average price of $133.51. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a market cap of $54.05 billion, a PE ratio of 442.81, a price-to-earnings-growth ratio of 61.63 and a beta of 1.20. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.31.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%.The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share. Equities analysts forecast that Datadog will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, Director Michael James Callahan sold 8,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $160.55, for a total value of $1,337,863.15. Following the sale, the director owned 12,496 shares in the company, valued at $2,006,232.80. This represents a 40.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 41,468 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $150.94, for a total value of $6,259,179.92. Following the completion of the sale, the chief technology officer directly owned 438,885 shares of the company’s stock, valued at approximately $66,245,301.90. The trade was a 8.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,512,446 shares of company stock worth $207,641,627 in the last 90 days. 8.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

A number of large investors have recently added to or reduced their stakes in DDOG. Motley Fool Asset Management LLC raised its stake in Datadog by 149.0% during the first quarter. Motley Fool Asset Management LLC now owns 38,132 shares of the company’s stock worth $3,783,000 after buying an additional 22,818 shares during the last quarter. LBP AM SA grew its holdings in Datadog by 40.2% during the 1st quarter. LBP AM SA now owns 419,805 shares of the company’s stock worth $41,649,000 after acquiring an additional 120,343 shares during the period. Envestnet Asset Management Inc. grew its holdings in Datadog by 24.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company’s stock worth $78,112,000 after acquiring an additional 156,152 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Datadog by 178.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,046 shares of the company’s stock worth $9,032,000 after acquiring an additional 58,369 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Datadog in the 1st quarter valued at about $15,526,000. Institutional investors own 78.29% of the company’s stock.

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.