BMO Capital Markets Cuts Datadog (NASDAQ:DDOG) Price Target to $140.00

Datadog (NASDAQ:DDOG) had its price target reduced by BMO Capital Markets from $155.00 to $140.00 in a research report sent to investors on Wednesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

DDOG has been the topic of a number of other research reports. Barclays raised their price target on shares of Datadog from $138.00 to $152.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Robert W. Baird upgraded Datadog from a neutral rating to an outperform rating and boosted their price target for the company from $130.00 to $140.00 in a report on Wednesday. Wells Fargo & Company upgraded Datadog from an equal weight rating to an overweight rating and increased their price objective for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Citigroup raised their price target on Datadog from $125.00 to $150.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Finally, Stifel Nicolaus restated a buy rating and issued a $152.00 price objective on shares of Datadog in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has an average rating of Moderate Buy and an average price target of $135.58.

Datadog Trading Up 0.2 %

Shares of NASDAQ:DDOG traded up $0.18 on Wednesday, reaching $117.46. 953,270 shares of the company traded hands, compared to its average volume of 4,248,973. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $124.57 and its 200 day simple moving average is $119.16. The stock has a market capitalization of $38.98 billion, a P/E ratio of 977.33 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. As a group, equities analysts anticipate that Datadog will post -0.14 EPS for the current fiscal year.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the transaction, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the sale, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 712,230 shares of company stock worth $91,161,780. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in shares of Datadog in the first quarter worth about $26,000. Anchor Investment Management LLC bought a new stake in Datadog in the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. bought a new stake in Datadog in the 4th quarter worth approximately $29,000. Private Trust Co. NA raised its holdings in shares of Datadog by 743.3% during the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Datadog during the 4th quarter valued at approximately $33,000. 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.