Needham & Company LLC Increases Datadog (NASDAQ:DDOG) Price Target to $54.00

Datadog (NASDAQ:DDOG) had its target price boosted by Needham & Company LLC from $48.00 to $54.00 in a research note published on Tuesday, BenzingaRatingsTable reports. Needham & Company LLC currently has a buy rating on the stock.

DDOG has been the subject of a number of other research reports. Zacks Investment Research upgraded Datadog from a sell rating to a hold rating in a research report on Tuesday, January 14th. JMP Securities assumed coverage on Datadog in a research report on Monday, October 14th. They set a market perform rating for the company. William Blair reiterated a buy rating on shares of Datadog in a research report on Wednesday, November 13th. Rosenblatt Securities assumed 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, Credit Suisse Group assumed coverage on Datadog in a research report on Wednesday, November 6th. They set a neutral rating and a $40.00 price objective for the company. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Datadog has an average rating of Hold and an average target price of $45.50.

Datadog stock opened at $47.03 on Tuesday. The stock has a market cap of $14.35 billion and a PE ratio of -313.53. The stock’s 50-day moving average is $42.01. Datadog has a 52 week low of $27.55 and a 52 week high of $50.12. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.07.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The company had revenue of $113.64 million for the quarter, compared to analysts’ expectations of $102.22 million. Equities research analysts predict that Datadog will post -0.19 EPS for the current fiscal year.

In other Datadog news, CEO Olivier Pomel sold 62,500 shares of Datadog stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.99, for a total value of $2,561,875.00. Following the completion of the sale, the chief executive officer now owns 109,600 shares in the company, valued at approximately $4,492,504. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael James Callahan sold 60,000 shares of Datadog stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.44, for a total value of $2,426,400.00. Following the completion of the sale, the director now owns 151,407 shares of the company’s stock, valued at approximately $6,122,899.08. The disclosure for this sale can be found here. Insiders sold a total of 454,600 shares of company stock valued at $18,786,304 in the last 90 days.

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new stake in Datadog in the 3rd quarter valued at about $34,000. Synovus Financial Corp purchased a new stake in Datadog in the 4th quarter valued at about $38,000. Citigroup Inc. purchased a new stake in shares of Datadog during the 4th quarter worth about $62,000. Advisor Group Inc. grew its holdings in shares of Datadog by 5,436.0% during the 4th quarter. Advisor Group Inc. now owns 2,768 shares of the company’s stock worth $105,000 after purchasing an additional 2,718 shares during the period. Finally, IFP Advisors Inc purchased a new stake in shares of Datadog during the 4th quarter worth about $145,000. Institutional investors own 33.13% 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.

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Datadog (NASDAQ:DDOG)

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