Zacks Investment Research Upgrades Datadog (NASDAQ:DDOG) to “Hold”

Datadog (NASDAQ:DDOG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Datadog Inc. provides monitoring services for cloud-scale applications which includes monitoring of servers, databases, tools and services, through a SaaS-based data analytics platform. Datadog Inc. is based in New York. “

Several other brokerages also recently issued reports on DDOG. Goldman Sachs Group started coverage on Datadog in a research report on Monday, October 14th. They set a “neutral” rating and a $33.00 price objective for the company. Royal Bank of Canada started coverage on Datadog in a research report on Monday, October 14th. They set a “sector perform” rating and a $39.00 price objective for the company. Stifel Nicolaus lifted their price objective on Datadog from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Rosenblatt Securities initiated coverage on Datadog in a research report on Wednesday, December 18th. They set a “buy” rating and a $50.00 price objective for the company. Finally, JMP Securities initiated coverage on Datadog in a report on Monday, October 14th. They issued a “market perform” rating for the company. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $41.80.

Shares of Datadog stock traded down $1.67 during trading on Tuesday, hitting $39.27. 2,402,990 shares of the company were exchanged, compared to its average volume of 2,885,921. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.94 and a quick ratio of 4.94. Datadog has a fifty-two week low of $27.55 and a fifty-two week high of $44.09. The stock has a 50 day moving average of $38.22.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.14. The company had revenue of $95.86 million for the quarter, compared to analyst estimates of $84.72 million. As a group, research analysts expect that Datadog will post -0.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of DDOG. California State Teachers Retirement System acquired a new position in Datadog in the 3rd quarter valued at $34,000. FNY Investment Advisers LLC acquired a new position in Datadog in the 3rd quarter valued at $161,000. Price Wealth LLC acquired a new position in Datadog in the 3rd quarter valued at $178,000. SG Americas Securities LLC acquired a new position in Datadog in the 3rd quarter valued at $196,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Datadog in the 3rd quarter valued at $383,000. Institutional investors own 33.12% of the company’s stock.

About Datadog

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.

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