Datadog, Inc. (NASDAQ:DDOG) Receives Average Rating of “Moderate Buy” from Analysts

Datadog, Inc. (NASDAQ:DDOG) has received a consensus recommendation of “Moderate Buy” from the thirty research firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $139.88.

A number of brokerages have recently commented on DDOG. Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and increased their price target for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Evercore ISI initiated coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. BMO Capital Markets dropped their price target on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Scotiabank dropped their target price on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the transaction, the chief executive officer now owns 324,539 shares in the company, valued at approximately $35,426,677.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Madre Armelle De sold 1,749 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $109.44, for a total value of $191,410.56. Following the completion of the sale, the insider now directly owns 93,774 shares of the company’s stock, valued at approximately $10,262,626.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $35,426,677.24. The disclosure for this sale can be found here. Insiders have sold 857,006 shares of company stock worth $101,040,823 in the last quarter. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Sands Capital Management LLC grew its holdings in shares of Datadog by 3.7% in the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after purchasing an additional 162,108 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares in the last quarter. Norges Bank purchased a new position in shares of Datadog in the fourth quarter valued at $384,986,000. Finally, 1832 Asset Management L.P. grew its holdings in shares of Datadog by 47.9% in 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 in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

Shares of DDOG stock opened at $115.18 on Friday. The firm’s 50 day moving average is $119.77 and its 200 day moving average is $121.83. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $38.53 billion, a P/E ratio of 359.94, a PEG ratio of 37.24 and a beta of 1.11. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. Datadog’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, sell-side analysts anticipate that Datadog will post 0.32 earnings per share for the current year.

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.