Robert W. Baird Upgrades Datadog (NASDAQ:DDOG) to “Outperform”

Datadog (NASDAQ:DDOG) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. The brokerage currently has a $140.00 target price on the stock, up from their prior target price of $130.00. Robert W. Baird’s price objective would suggest a potential upside of 24.56% from the stock’s current price.

A number of other analysts have also recently commented on DDOG. Truist Financial boosted their target price on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Mizuho boosted their target price on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Wedbush reissued an “outperform” rating and set a $155.00 target price on shares of Datadog in a research note on Monday. Citigroup boosted their target price on shares of Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.42.

Datadog Stock Down 11.5 %

DDOG opened at $112.40 on Wednesday. Datadog has a fifty-two week low of $75.02 and a fifty-two week high of $138.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The company has a fifty day moving average of $124.57 and a two-hundred day moving average of $119.16. The stock has a market capitalization of $37.30 billion, a price-to-earnings ratio of 936.67 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $589.65 million during the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) earnings per share. On average, research analysts expect that Datadog will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 19,226 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The disclosure for this sale can be found here. Insiders have sold 626,593 shares of company stock worth $80,422,044 in the last ninety days. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. grew its holdings in shares of Datadog by 3.1% in the first quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock valued at $976,000 after purchasing an additional 234 shares in the last quarter. Donoghue Forlines LLC boosted its position in Datadog by 29.1% in the 1st quarter. Donoghue Forlines LLC now owns 3,750 shares of the company’s stock valued at $464,000 after buying an additional 846 shares during the period. Verus Capital Partners LLC grew its stake in shares of Datadog by 4.5% in the first quarter. Verus Capital Partners LLC now owns 3,384 shares of the company’s stock worth $418,000 after acquiring an additional 147 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of Datadog by 9.0% during the first quarter. Meeder Advisory Services Inc. now owns 2,388 shares of the company’s stock worth $295,000 after acquiring an additional 197 shares during the period. Finally, Atomi Financial Group Inc. acquired a new stake in shares of Datadog in the first quarter valued at $356,000. Institutional investors and hedge funds 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.