Datadog (NASDAQ:DDOG) Upgraded at BTIG Research

Datadog (NASDAQ:DDOG) was upgraded by equities researchers at BTIG Research from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat reports. The firm currently has a $143.00 price target on the stock. BTIG Research’s price target points to a potential upside of 22.81% from the company’s previous close.

A number of other research analysts also recently weighed in on DDOG. Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and raised their price target for the company from $143.00 to $155.00 in a research note on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. Wedbush reiterated an “outperform” rating and set a $155.00 target price on shares of Datadog in a research note on Wednesday, June 26th. Monness Crespi & Hardt reiterated a “sell” rating and set a $98.00 target price (down from $290.00) on shares of Datadog in a research note on Friday, June 14th. Finally, Baird R W upgraded Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.37.

Datadog Stock Up 1.5 %

DDOG stock opened at $116.44 on Thursday. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $120.89 and a two-hundred day moving average price of $123.87. The company has a market cap of $38.95 billion, a price-to-earnings ratio of 363.88, a P/E/G ratio of 37.76 and a beta of 1.11. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly 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. The firm had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. Analysts anticipate that Datadog will post 0.32 EPS for the current fiscal year.

Insider Activity

In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.41, for a total value of $10,739,736.17. Following the transaction, the chief executive officer now owns 337,247 shares in the company, valued at approximately $42,294,146.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Datadog news, COO Adam Blitzer sold 11,946 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $109.45, for a total value of $1,307,489.70. Following the transaction, the chief operating officer now directly owns 236,640 shares of the company’s stock, valued at $25,900,248. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the transaction, the chief executive officer now owns 337,247 shares in the company, valued at approximately $42,294,146.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 857,606 shares of company stock worth $103,799,779. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Datadog during the first quarter worth approximately $26,000. Raleigh Capital Management Inc. acquired a new position in shares of Datadog during the fourth quarter worth approximately $29,000. Private Trust Co. NA raised its position in shares of Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the period. Jones Financial Companies Lllp purchased a new stake in Datadog in the 4th quarter valued at $33,000. Finally, Quest Partners LLC purchased a new stake in Datadog in the 4th quarter valued at $36,000. 78.29% of the stock is owned by 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.