Barclays Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price target raised by equities researchers at Barclays from $140.00 to $155.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 24.55% from the company’s previous close.

Several other research firms have also issued reports on DDOG. DA Davidson lifted their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. BNP Paribas initiated coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective on the stock. Scotiabank decreased their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday. Needham & Company LLC lowered their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Robert W. Baird upped their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $150.96.

Datadog Stock Performance

Shares of DDOG opened at $124.45 on Friday. The stock has a market capitalization of $41.96 billion, a PE ratio of 276.56, a PEG ratio of 23.44 and a beta of 1.10. The company has a 50 day moving average price of $119.67 and a 200-day moving average price of $119.58. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61.

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

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the sale, the general counsel now directly owns 74,421 shares of the company’s stock, valued at $8,934,985.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the completion of the transaction, the general counsel now owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,291 shares of company stock valued at $54,154,859. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SouthState Corp purchased a new position in Datadog during the second quarter valued at $26,000. Meeder Asset Management Inc. lifted its stake in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. Blue Trust Inc. acquired a new stake in Datadog in the 2nd quarter worth about $37,000. Versant Capital Management Inc increased its stake in Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after buying an additional 210 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.