Datadog (NASDAQ:DDOG) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $165.00 price objective on the stock.

Several other equities analysts also recently issued reports on DDOG. Wolfe Research increased their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Citigroup raised their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Barclays raised their price target on shares of Datadog from $138.00 to $152.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. William Blair reissued an outperform rating on shares of Datadog in a research note on Friday, February 16th. Finally, Truist Financial raised 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 research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $136.04.

Datadog Stock Performance

DDOG opened at $112.40 on Tuesday. 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 $37.30 billion, a price-to-earnings ratio of 936.67 and a beta of 1.14. Datadog has a 52-week low of $75.02 and a 52-week high of $138.61. The firm’s fifty day simple moving average is $124.57 and its two-hundred day simple moving average is $119.16.

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

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the transaction, the chief executive officer now directly owns 337,247 shares in the company, valued at $43,858,972.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the transaction, the chief executive officer now directly owns 337,247 shares in the company, valued at $43,858,972.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares in the company, valued at $33,414,012.80. The disclosure for this sale can be found here. Insiders have sold 626,593 shares of company stock worth $80,422,044 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Datadog by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after acquiring an additional 734,539 shares in the last quarter. Sands Capital Management LLC raised its stake in shares of Datadog by 3.7% in the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after acquiring an additional 162,108 shares in the last quarter. Norges Bank acquired a new stake in shares of Datadog in the fourth quarter valued at $384,986,000. Massachusetts Financial Services Co. MA raised its stake in shares of Datadog by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after acquiring an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of 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 acquiring an additional 848,000 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.