Datadog (NASDAQ:DDOG) Price Target Raised to $150.00 at DA Davidson

Datadog (NASDAQ:DDOG) had its target price lifted by analysts at DA Davidson from $140.00 to $150.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 21.21% from the company’s current price.

Several other research analysts also recently issued reports on the company. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. BNP Paribas assumed coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target for the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday. Sanford C. Bernstein dropped their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, Scotiabank reduced their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $146.70.

Datadog Trading Down 4.7 %

Shares of DDOG stock traded down $6.04 during mid-day trading on Friday, reaching $123.75. The stock had a trading volume of 1,560,598 shares, compared to its average volume of 3,776,698. The company has a market cap of $41.72 billion, a P/E ratio of 274.34, a price-to-earnings-growth ratio of 22.93 and a beta of 1.10. Datadog has a 12-month low of $98.80 and a 12-month high of $138.61. The business has a 50-day simple moving average of $119.21 and a 200 day simple moving average of $119.49.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same period last year, the firm posted $0.36 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. Research analysts anticipate that Datadog will post 0.42 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Kerry Acocella sold 2,452 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now directly owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 444,291 shares of company stock valued at $54,154,859 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Heritage Investors Management Corp purchased a new stake in Datadog during the 3rd quarter worth $1,157,000. Vanguard Group Inc. grew its stake in shares of Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after acquiring an additional 171,693 shares in the last quarter. Bank of Montreal Can increased its position in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after acquiring an additional 344,431 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Datadog by 23.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock worth $19,635,000 after acquiring an additional 32,217 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in Datadog by 1,648.8% in the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after purchasing an additional 4,864 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.