Datadog’s (DDOG) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report sent to investors on Monday morning, Benzinga reports. Stifel Nicolaus currently has a $152.00 price objective on the stock.

Several other brokerages have also recently issued reports on DDOG. Cantor Fitzgerald reiterated an overweight rating and issued a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Barclays upped their price objective on Datadog from $138.00 to $152.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. William Blair reissued an outperform rating on shares of Datadog in a report on Friday, February 16th. Wells Fargo & Company boosted their price target on Datadog from $100.00 to $130.00 and gave the stock an equal weight rating in a research note on Friday, February 9th. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $130.96.

Datadog Stock Up 1.6 %

DDOG stock opened at $122.07 on Monday. The business has a 50 day moving average of $125.63 and a 200 day moving average of $116.37. The firm has a market cap of $40.51 billion, a PE ratio of 1,017.25 and a beta of 1.16. Datadog has a twelve month low of $62.60 and a twelve month high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. On average, research analysts forecast that Datadog will post -0.14 EPS for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the sale, the chief executive officer now owns 299,075 shares in the company, valued at approximately $38,825,916.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CRO Sean Michael Walters sold 20,692 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,660,577.36. Following the completion of the transaction, the executive now owns 182,593 shares of the company’s stock, valued at $23,477,807.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the sale, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,825,916.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 745,984 shares of company stock worth $95,917,681. 14.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Datadog during the fourth quarter worth $384,986,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Datadog during the third quarter valued at about $189,668,000. Alkeon Capital Management LLC bought a new stake in Datadog in the 3rd quarter worth approximately $127,526,000. Vanguard Group Inc. raised its holdings in shares of Datadog by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after acquiring an additional 1,191,742 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other 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.