Datadog (NASDAQ:DDOG) Shares Gap Up to $122.07

Shares of Datadog, Inc. (NASDAQ:DDOG) gapped up before the market opened on Tuesday . The stock had previously closed at $122.07, but opened at $125.50. Datadog shares last traded at $127.21, with a volume of 928,023 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DDOG shares. Robert W. Baird upped their price target on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Wolfe Research upped their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Royal Bank of Canada upped their price target on Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Truist Financial upped their price target on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Mizuho upped their price target on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.70.

Datadog Stock Up 0.5 %

The firm has a fifty day moving average price of $125.35 and a 200 day moving average price of $116.67. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The company has a market cap of $42.17 billion, a P/E ratio of 1,058.92 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities research analysts forecast that Datadog, Inc. will post -0.14 earnings per share for the current year.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 299,075 shares in the company, valued at $38,825,916.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 299,075 shares in the company, valued at $38,825,916.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the transaction, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 735,984 shares of company stock worth $94,617,681. Insiders own 14.97% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds have recently added to or reduced their stakes in DDOG. Norges Bank acquired a new position in Datadog in the fourth quarter valued at about $384,986,000. Massachusetts Financial Services Co. MA acquired a new position in Datadog in the third quarter valued at about $189,668,000. Alkeon Capital Management LLC acquired a new position in Datadog in the third quarter valued at about $127,526,000. Vanguard Group Inc. lifted its stake in Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after buying an additional 1,191,742 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in 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 buying an additional 848,000 shares during the period. Institutional investors and hedge funds 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.