Datadog’s (DDOG) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Wednesday morning, Benzinga reports. Wedbush currently has a $155.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird raised shares of Datadog from a neutral rating to an outperform rating and lifted their price target for the stock from $130.00 to $140.00 in a research note on Wednesday, May 8th. Stifel Nicolaus reiterated a buy rating and issued a $152.00 price target on shares of Datadog in a report on Monday, April 22nd. Barclays dropped their price objective on Datadog from $152.00 to $145.00 and set an overweight rating for the company in a report on Wednesday, May 8th. Baird R W upgraded Datadog from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Finally, Rosenblatt Securities reissued a buy rating and set a $146.00 target price on shares of Datadog in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $136.04.

Datadog Stock Up 1.0 %

DDOG opened at $129.69 on Wednesday. The company has a market capitalization of $43.38 billion, a PE ratio of 405.28, a price-to-earnings-growth ratio of 40.56 and a beta of 1.09. The firm has a 50-day simple moving average of $119.81 and a two-hundred day simple moving average of $123.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The business had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. Analysts forecast that Datadog will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, insider Madre Armelle De sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the transaction, the insider now directly owns 100,053 shares of the company’s stock, valued at approximately $11,343,008.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $125.53, for a total transaction of $15,955,490.65. Following the completion of the transaction, the chief technology officer now owns 290,412 shares of the company’s stock, valued at approximately $36,455,418.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total transaction of $34,011.00. Following the completion of the sale, the insider now owns 100,053 shares of the company’s stock, valued at approximately $11,343,008.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 702,037 shares of company stock valued at $82,731,018. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Spire Wealth Management boosted its holdings in Datadog by 2,148.5% during the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock valued at $694,000 after acquiring an additional 5,092 shares during the period. Hsbc Holdings PLC lifted its holdings in Datadog by 47.8% during the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock worth $23,505,000 after buying an additional 62,533 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Datadog by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after purchasing an additional 651,244 shares during the period. Congress Asset Management Co. MA purchased a new position in shares of Datadog in the 1st quarter valued at about $1,083,000. Finally, Zevenbergen Capital Investments LLC grew its position in shares of Datadog by 5.6% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock worth $20,077,000 after buying an additional 8,830 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.