TD Cowen Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its price objective increased by TD Cowen from $160.00 to $165.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 32.58% from the stock’s previous close.

A number of other research firms have also recently issued reports on DDOG. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. DA Davidson lifted their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday. BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $135.00 to $155.00 in a report on Tuesday, July 16th. Finally, Needham & Company LLC cut their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $150.96.

Datadog Price Performance

NASDAQ:DDOG opened at $124.45 on Friday. The business’s 50-day simple moving average is $119.67 and its 200-day simple moving average is $119.58. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The stock has a market capitalization of $41.96 billion, a PE ratio of 276.56, a price-to-earnings-growth ratio of 23.44 and a beta of 1.10.

Datadog (NASDAQ:DDOG) last released its quarterly 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 company had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, research analysts expect that Datadog will post 0.42 earnings per share for the current year.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the transaction, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Datadog news, General Counsel Kerry Acocella sold 2,452 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the sale, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 444,291 shares of company stock worth $54,154,859. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Institutional investors have recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft lifted its holdings in shares of Datadog by 1.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock worth $657,000 after buying an additional 77 shares in the last quarter. Pathstone Holdings LLC increased its position in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC raised its stake in Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after purchasing an additional 92 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Datadog by 5.2% in the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after purchasing an additional 95 shares during the period. Finally, Ameritas Investment Partners Inc. grew its position in shares of Datadog by 1.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock worth $1,096,000 after purchasing an additional 103 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

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.