Datadog (NASDAQ:DDOG) Upgraded by Wells Fargo & Company to “Overweight”

Datadog (NASDAQ:DDOG) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $150.00 price objective on the stock, up from their prior price objective of $130.00. Wells Fargo & Company‘s price objective suggests a potential upside of 18.05% from the stock’s previous close.

A number of other research analysts also recently commented on the company. Truist Financial increased their price target on Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Wolfe Research increased their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (up previously from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Needham & Company LLC increased their target price on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $150.00 target price on shares of Datadog in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.70.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $127.07 on Tuesday. The firm has a market capitalization of $42.17 billion, a PE ratio of 1,058.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The business has a 50-day moving average of $125.35 and a two-hundred day moving average of $116.67. Datadog has a 12 month low of $62.60 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, research analysts forecast that Datadog will post -0.14 earnings per share for the current year.

Insider Transactions at Datadog

In other news, President Amit Agarwal sold 33,311 shares of Datadog stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Datadog news, President Amit Agarwal sold 33,311 shares of Datadog stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $4,283,128.38. Following the sale, the president now directly owns 294,012 shares of the company’s stock, valued at $37,804,062.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $130.28, for a total value of $1,954,200.00. Following the completion of the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,851,883.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 735,984 shares of company stock worth $94,617,681. Company insiders own 14.97% of the company’s stock.

Hedge Funds Weigh In On Datadog

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new position in Datadog in the 1st quarter worth $26,000. Anchor Investment Management LLC acquired a new position in Datadog in the 4th quarter worth $25,000. Raleigh Capital Management Inc. acquired a new position in Datadog in the 4th quarter worth $29,000. Private Trust Co. NA boosted its stake in Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of Datadog during the 4th quarter worth about $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

About Datadog

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.