Datadog’s (DDOG) “Buy” Rating Reiterated at Rosenblatt Securities

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a research report issued on Monday, Benzinga reports. They presently have a $146.00 target price on the stock. Rosenblatt Securities’ target price indicates a potential upside of 29.89% from the stock’s previous close.

Several other research analysts also recently weighed in on DDOG. Needham & Company LLC increased their price target on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. Royal Bank of Canada raised their price objective on shares of Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. Finally, Wolfe Research lifted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.04.

Datadog Price Performance

DDOG opened at $112.40 on Monday. The firm has a market cap of $37.30 billion, a P/E ratio of 936.67 and a beta of 1.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. Datadog has a fifty-two week low of $75.02 and a fifty-two week high of $138.61. The firm has a 50-day moving average of $124.57 and a 200 day moving average of $119.16.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) 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 company had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same quarter last year, the business posted ($0.08) EPS. Datadog’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, research analysts expect that Datadog will post -0.14 EPS for the current year.

Insider Activity

In related news, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction on Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the transaction, the insider now owns 100,353 shares in the company, valued at approximately $12,578,245.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Madre Armelle De sold 600 shares of the firm’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 transaction, the insider now directly owns 100,353 shares in the company, valued at approximately $12,578,245.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Sean Michael Walters sold 20,692 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,660,577.36. Following the completion of the sale, the executive now owns 182,593 shares of the company’s stock, valued at approximately $23,477,807.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 626,593 shares of company stock valued at $80,422,044. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Large investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new stake in shares of Datadog in the fourth quarter worth about $25,000. Riverview Trust Co bought a new stake in shares of Datadog in the 1st quarter worth approximately $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog during the fourth quarter valued at approximately $29,000. BluePath Capital Management LLC bought a new position in shares of Datadog during the third quarter valued at approximately $31,000. Finally, Private Trust Co. NA lifted its stake in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares during the period. Institutional investors 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.