Datadog (NASDAQ:DDOG) Receives New Coverage from Analysts at Loop Capital

Loop Capital initiated coverage on shares of Datadog (NASDAQ:DDOG) in a report released on Tuesday morning, Benzinga reports. The firm issued a buy rating and a $110.00 target price on the stock.

Several other equities analysts also recently weighed in on DDOG. William Blair reiterated a buy rating on shares of Datadog in a report on Thursday, June 18th. Rosenblatt Securities reiterated a buy rating and issued a $75.00 price target on shares of Datadog in a report on Tuesday, July 28th. Jefferies Financial Group increased their price target on shares of Datadog from $59.00 to $95.00 and gave the stock a hold rating in a report on Friday, August 7th. Zacks Investment Research upgraded shares of Datadog from a hold rating to a buy rating and set a $85.00 price target on the stock in a report on Wednesday, August 12th. Finally, Morgan Stanley upped their price objective on Datadog from $60.00 to $80.00 and gave the stock an equal weight rating in a research report on Monday, July 27th. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $87.73.

Shares of DDOG traded up $2.18 during mid-day trading on Tuesday, hitting $90.72. 68,392 shares of the company traded hands, compared to its average volume of 4,196,083. Datadog has a 1-year low of $27.55 and a 1-year high of $98.99. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $26.86 billion and a PE ratio of -4,427.00. The business has a 50 day moving average of $83.80 and a 200 day moving average of $66.35.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Datadog had a net margin of 0.73% and a return on equity of 0.75%. The company had revenue of $140.01 million for the quarter, compared to the consensus estimate of $135.41 million. During the same quarter in the prior year, the company earned ($0.07) EPS. Datadog’s quarterly revenue was up 68.2% on a year-over-year basis. As a group, research analysts expect that Datadog will post 0.01 EPS for the current fiscal year.

In other news, CFO David M. Obstler sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $77.03, for a total transaction of $2,696,050.00. Following the transaction, the chief financial officer now owns 267,378 shares in the company, valued at approximately $20,596,127.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 50,483 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $83.13, for a total value of $4,196,651.79. The disclosure for this sale can be found here. Insiders have sold a total of 2,290,186 shares of company stock worth $200,683,893 in the last quarter. Insiders own 26.06% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Engrave Wealth Partners LLC raised its stake in Datadog by 209.0% in the 2nd quarter. Engrave Wealth Partners LLC now owns 309 shares of the company’s stock valued at $26,000 after purchasing an additional 209 shares during the last quarter. Glassman Wealth Services raised its stake in Datadog by 74.5% in the 2nd quarter. Glassman Wealth Services now owns 349 shares of the company’s stock valued at $30,000 after purchasing an additional 149 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Datadog in the 1st quarter valued at $32,000. Harbor Investment Advisory LLC acquired a new position in Datadog in the 2nd quarter valued at $33,000. Finally, Captrust Financial Advisors acquired a new position in Datadog in the 2nd quarter valued at $36,000. 42.13% of the stock is owned by hedge funds and other institutional investors.

Datadog Company Profile

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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Analyst Recommendations for Datadog (NASDAQ:DDOG)

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