Datadog (NASDAQ:DDOG) Raised to Buy at DA Davidson

DA Davidson upgraded shares of Datadog (NASDAQ:DDOG) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat reports. The firm currently has $140.00 price target on the stock, up from their prior price target of $115.00.

A number of other research analysts have also recently commented on DDOG. Barclays reduced their price target on shares of Datadog from $145.00 to $140.00 and set an overweight rating on the stock in a research report on Friday, August 9th. Wedbush reaffirmed an outperform rating and set a $155.00 target price on shares of Datadog in a report on Friday, August 9th. BMO Capital Markets lowered their price target on shares of Datadog from $140.00 to $132.00 and set an outperform rating for the company in a research note on Friday, August 9th. Mizuho upgraded shares of Datadog from a neutral rating to an outperform rating and upped their price target for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Datadog has a consensus rating of Moderate Buy and an average target price of $140.85.

Datadog Stock Performance

NASDAQ DDOG opened at $122.69 on Tuesday. Datadog has a 52-week low of $77.81 and a 52-week high of $138.61. The company has a fifty day moving average of $113.52 and a 200-day moving average of $119.20. The company has a market capitalization of $41.04 billion, a P/E ratio of 383.41, a P/E/G ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, analysts forecast that Datadog will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 422,991 shares of company stock valued at $50,448,980. 11.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in shares of Datadog in the 1st quarter worth about $26,000. SouthState Corp purchased a new position in Datadog in the second quarter worth about $26,000. Raleigh Capital Management Inc. bought a new position in shares of Datadog in the fourth quarter worth approximately $29,000. Jones Financial Companies Lllp purchased a new stake in shares of Datadog during the fourth quarter valued at approximately $33,000. Finally, Blue Trust Inc. bought a new stake in shares of Datadog during the second quarter valued at approximately $37,000. 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.