Scotiabank Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price objective lifted by equities researchers at Scotiabank from $150.00 to $217.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 13.47% from the stock’s previous close.

A number of other analysts have also issued reports on DDOG. Weiss Ratings reissued a “sell (d+)” rating on shares of Datadog in a research report on Wednesday, October 8th. Mizuho set a $215.00 price target on shares of Datadog in a report on Friday. Jefferies Financial Group increased their price target on Datadog from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer raised their price target on shares of Datadog from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, CIBC upgraded Datadog from a “neutral” rating to a “sector outperform” rating and set a $240.00 price target on the stock in a research report on Friday. Thirty equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.94.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $0.42 during midday trading on Friday, hitting $191.24. The stock had a trading volume of 9,200,193 shares, compared to its average volume of 5,542,853. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $148.78 and a 200-day simple moving average of $133.91. The company has a market capitalization of $66.69 billion, a PE ratio of 546.42, a P/E/G ratio of 60.64 and a beta of 1.20. Datadog has a 1 year low of $81.63 and a 1 year high of $194.87.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.45 by $0.10. Datadog had a return on equity of 5.04% and a net margin of 4.13%.The firm had revenue of $885.65 million during the quarter, compared to the consensus estimate of $852.77 million. During the same period in the prior year, the company earned $0.46 EPS. The firm’s revenue was up 28.4% compared to the same quarter last year. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS. Q4 2025 guidance at 0.54-0.56 EPS. On average, sell-side analysts expect that Datadog will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael James Callahan sold 8,333 shares of Datadog stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $160.55, for a total value of $1,337,863.15. Following the completion of the sale, the director directly owned 12,496 shares in the company, valued at $2,006,232.80. This trade represents a 40.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 62,682 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $163.90, for a total transaction of $10,273,579.80. Following the completion of the sale, the chief executive officer directly owned 533,358 shares in the company, valued at approximately $87,417,376.20. The trade was a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,510,236 shares of company stock worth $207,339,763 in the last three months. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Syon Capital LLC lifted its stake in Datadog by 104.6% during the 3rd quarter. Syon Capital LLC now owns 4,429 shares of the company’s stock worth $631,000 after acquiring an additional 2,264 shares in the last quarter. BBR Partners LLC acquired a new stake in shares of Datadog in the 3rd quarter valued at about $543,000. NEOS Investment Management LLC boosted its stake in Datadog by 135.7% during the 3rd quarter. NEOS Investment Management LLC now owns 135,208 shares of the company’s stock worth $19,254,000 after purchasing an additional 77,837 shares during the period. Rothschild Investment LLC raised its stake in shares of Datadog by 126.6% during the third quarter. Rothschild Investment LLC now owns 179 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Finally, Zions Bancorporation National Association UT lifted its stake in shares of Datadog by 193,700.0% in the third quarter. Zions Bancorporation National Association UT now owns 9,690 shares of the company’s stock valued at $1,380,000 after purchasing an additional 9,685 shares during the period. Institutional investors and hedge funds 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.