Needham & Company LLC Reiterates “Buy” Rating for Datadog (NASDAQ:DDOG)

Needham & Company LLC restated their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Thursday, Benzinga reports. They currently have a $165.00 price target on the stock.

DDOG has been the subject of a number of other research reports. Bank of America upgraded Datadog from a neutral rating to a buy rating and lifted their price target for the company from $143.00 to $155.00 in a research note on Thursday, May 30th. Wedbush reissued an outperform rating and issued a $155.00 price target on shares of Datadog in a research report on Wednesday, June 26th. Wells Fargo & Company raised shares of Datadog from an equal weight rating to an overweight rating and lifted their price objective for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. JMP Securities upgraded shares of Datadog to a hold rating in a report on Wednesday, May 8th. Finally, Baird R W raised shares of Datadog from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. One research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $136.04.

Datadog Stock Up 1.0 %

Shares of DDOG opened at $129.69 on Thursday. The company has a market capitalization of $43.38 billion, a PE ratio of 405.28, a PEG ratio of 42.70 and a beta of 1.09. The stock’s 50-day moving average price is $119.81 and its two-hundred day moving average price is $123.21. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. On average, analysts anticipate that Datadog will post 0.32 EPS for the current year.

Insider Buying and Selling at Datadog

In related news, insider Madre Armelle De sold 600 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the sale, the insider now owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Datadog news, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The disclosure for this sale can be found here. Insiders sold a total of 702,037 shares of company stock valued at $82,731,018 in the last three months. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Anchor Investment Management LLC purchased a new position in shares of Datadog during the 4th quarter valued at about $25,000. Riverview Trust Co bought a new stake in shares of Datadog in the 1st quarter worth approximately $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Datadog in the 4th quarter worth approximately $29,000. Private Trust Co. NA grew 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 valued at $31,000 after purchasing an additional 223 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Datadog in the 4th quarter worth $33,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.