Datadog (NASDAQ:DDOG) Stock Rating Reaffirmed by Rosenblatt Securities

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a report issued on Monday, Benzinga reports. They presently have a $146.00 price objective on the stock. Rosenblatt Securities’ target price suggests a potential upside of 29.89% from the stock’s previous close.

Several other equities research analysts have also weighed in on DDOG. Truist Financial raised their price objective on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Mizuho upped their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $150.00 target price on shares of Datadog in a research report on Friday, February 23rd. Finally, Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of Datadog in a research report on Monday. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $136.04.

Datadog Trading Down 11.5 %

Shares of Datadog stock opened at $112.40 on Monday. The business has a fifty day simple moving average of $124.57 and a 200-day simple moving average of $119.16. Datadog has a fifty-two week low of $75.02 and a fifty-two week high of $138.61. The firm has a market cap of $37.30 billion, a price-to-earnings ratio of 936.67 and a beta of 1.14. 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 issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same period in the prior year, the company earned ($0.08) EPS. Datadog’s revenue was up 25.6% on a year-over-year basis. On average, equities analysts forecast that Datadog will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, CEO Olivier Pomel sold 19,226 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,897,694.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $130.06, for a total transaction of $2,500,533.56. Following the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at approximately $38,897,694.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were 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 owns 275,191 shares of the company’s stock, valued at $35,851,883.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 626,593 shares of company stock valued at $80,422,044. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DDOG. Norges Bank acquired a new position in shares of Datadog in the 4th quarter worth approximately $384,986,000. Massachusetts Financial Services Co. MA acquired a new position in Datadog during the third quarter worth $189,668,000. Alkeon Capital Management LLC bought a new position in shares of Datadog during the third quarter valued at $127,526,000. Vanguard Group Inc. boosted its stake in shares of Datadog by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after purchasing an additional 1,191,742 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.