Datadog (NASDAQ:DDOG) Stock Rating Reaffirmed by Needham & Company LLC

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $165.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 40.69% from the company’s current price.

A number of other analysts also recently weighed in on the company. Citigroup upped their target price on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. William Blair reiterated an “outperform” rating on shares of Datadog in a research report on Friday, February 16th. Wolfe Research upped their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Stifel Nicolaus restated a “buy” rating and set a $152.00 price objective on shares of Datadog in a research report on Monday, April 22nd. Finally, Truist Financial upped their price objective on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.58.

Datadog Stock Performance

DDOG opened at $117.28 on Tuesday. The business has a fifty day simple moving average of $124.57 and a 200 day simple moving average of $119.16. The company has a market capitalization of $38.92 billion, a PE ratio of 977.33 and a beta of 1.14. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17.

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

Insider Activity

In other news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the completion of the sale, the chief operating officer now owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the sale, the insider now owns 100,353 shares of the company’s stock, valued at $12,578,245.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Adam Blitzer sold 20,892 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the sale, the chief operating officer now directly owns 203,503 shares of the company’s stock, valued at approximately $26,166,415.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 712,230 shares of company stock valued at $91,161,780. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Large investors have recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC boosted its holdings in Datadog by 8.6% in the first quarter. Motley Fool Asset Management LLC now owns 9,794 shares of the company’s stock worth $1,211,000 after acquiring an additional 777 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Datadog by 27.3% in the first quarter. ProShare Advisors LLC now owns 300,491 shares of the company’s stock worth $37,141,000 after acquiring an additional 64,361 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Datadog by 36.2% in the first quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock worth $796,000 after acquiring an additional 1,713 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Datadog by 3.1% in the first quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock worth $976,000 after acquiring an additional 234 shares in the last quarter. Finally, Donoghue Forlines LLC boosted its holdings in Datadog by 29.1% in the first quarter. Donoghue Forlines LLC now owns 3,750 shares of the company’s stock worth $464,000 after acquiring an additional 846 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.