Datadog (NASDAQ:DDOG) Lifted to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Datadog (NASDAQ:DDOG) from an equal weight rating to an overweight rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $150.00 target price on the stock, up from their previous target price of $130.00.

Several other equities research analysts also recently issued reports on the company. Wolfe Research increased their price objective on Datadog from $140.00 to $150.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Canaccord Genuity Group restated a buy rating and set a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Citigroup upped their price objective on shares of Datadog from $125.00 to $150.00 and gave the company a buy rating in a research note on Monday, January 22nd. Cantor Fitzgerald reissued an overweight rating and set a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Finally, Truist Financial upped their price target on shares of Datadog from $140.00 to $155.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Datadog has an average rating of Moderate Buy and an average price target of $131.70.

Datadog Stock Performance

Datadog stock opened at $126.44 on Tuesday. Datadog has a fifty-two week low of $62.60 and a fifty-two week high of $138.61. The firm’s 50 day simple moving average is $125.53 and its 200-day simple moving average is $116.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The company has a market cap of $41.96 billion, a P/E ratio of 1,053.67 and a beta of 1.16.

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

Insider Activity

In related news, CEO Olivier Pomel sold 133,315 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Madre Armelle De sold 600 shares of the business’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 sale, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 735,984 shares of company stock valued at $94,617,681. 14.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently made changes to their positions in the business. Anchor Investment Management LLC acquired a new position in Datadog in the fourth quarter worth about $25,000. Riverview Trust Co acquired a new position in shares of Datadog in the 1st quarter worth approximately $26,000. Raleigh Capital Management Inc. bought a new position in shares of Datadog during the 4th quarter worth approximately $29,000. BluePath Capital Management LLC acquired a new stake in Datadog in the 3rd quarter valued at $31,000. Finally, Private Trust Co. NA grew its position in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares during the period. 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.