Datadog (NASDAQ:DDOG) Given New $135.00 Price Target at Needham & Company LLC

Datadog (NASDAQ:DDOG – Get Rating) had its target price decreased by Needham & Company LLC from $145.00 to $135.00 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities research analysts also recently commented on DDOG. Barclays cut their target price on shares of Datadog from $150.00 to $130.00 and set an overweight rating on the stock in a research report on Friday. Royal Bank of Canada cut their target price on shares of Datadog from $225.00 to $167.00 in a research report on Monday, May 2nd. Monness Crespi & Hardt downgraded shares of Datadog from a buy rating to a neutral rating in a research report on Thursday. Truist Financial cut their target price on shares of Datadog from $200.00 to $170.00 in a research report on Friday, May 6th. Finally, Canaccord Genuity Group started coverage on shares of Datadog in a research report on Thursday, July 7th. They issued a hold rating and a $120.00 price target on the stock. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $154.20.

Datadog Trading Up 2.5 %

Shares of Datadog stock opened at $113.29 on Friday. The firm has a market capitalization of $35.69 billion, a PE ratio of 11,340.34 and a beta of 1.15. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $98.82 and its 200 day moving average is $121.67. Datadog has a 1 year low of $81.12 and a 1 year high of $199.68.

Datadog (NASDAQ:DDOG – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. The company had revenue of $406.14 million for the quarter, compared to analyst estimates of $381.28 million. Datadog had a net margin of 0.48% and a return on equity of 2.34%. The firm’s revenue was up 73.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. Equities research analysts forecast that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, COO Adam Blitzer sold 25,416 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $102.22, for a total transaction of $2,598,023.52. Following the completion of the sale, the chief operating officer now owns 216,510 shares in the company, valued at approximately $22,131,652.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO David M. Obstler sold 9,693 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $115.38, for a total value of $1,118,378.34. Following the completion of the sale, the chief financial officer now owns 209,810 shares in the company, valued at approximately $24,207,877.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Adam Blitzer sold 25,416 shares of the company’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $102.22, for a total transaction of $2,598,023.52. Following the completion of the sale, the chief operating officer now owns 216,510 shares of the company’s stock, valued at approximately $22,131,652.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,650 shares of company stock worth $15,336,520. 15.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors have recently added to or reduced their stakes in DDOG. ICONIQ Capital LLC grew its position in Datadog by 245.4% during the first quarter. ICONIQ Capital LLC now owns 15,791,929 shares of the company’s stock valued at $2,392,003,000 after buying an additional 11,219,544 shares during the period. Norges Bank bought a new position in Datadog during the fourth quarter valued at about $360,540,000. Capital Research Global Investors grew its position in Datadog by 67.4% during the fourth quarter. Capital Research Global Investors now owns 4,641,710 shares of the company’s stock valued at $826,735,000 after buying an additional 1,868,762 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Datadog by 104.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company’s stock valued at $315,783,000 after buying an additional 1,066,716 shares during the period. Finally, Scge Management L.P. bought a new position in Datadog during the first quarter valued at about $111,785,000. Institutional investors own 65.17% of the company’s stock.

About Datadog

(Get Rating)

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