Datadog’s (DDOG) “Outperform” Rating Reiterated at Wedbush

Datadog (NASDAQ:DDOG)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a note issued to investors on Monday, Benzinga reports. They presently have a $155.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 37.90% from the company’s current price.

A number of other research analysts have also recently issued reports on DDOG. Canaccord Genuity Group reiterated a “buy” rating and issued a $150.00 target price on shares of Datadog in a research note on Friday, February 23rd. Truist Financial boosted their price objective on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Mizuho raised their target price on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Barclays upped their price target on shares of Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada raised their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.04.

Datadog Trading Down 11.5 %

Shares of DDOG opened at $112.40 on Monday. The stock has a 50 day simple moving average of $124.57 and a 200-day simple moving average of $119.16. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The stock has a market cap of $37.30 billion, a PE ratio of 936.67 and a beta of 1.14. Datadog has a 1 year low of $75.02 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data 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 return on equity of 3.79% and a net margin of 2.28%. The firm had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, sell-side analysts predict that Datadog will post -0.14 EPS for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, COO Adam Blitzer sold 20,892 shares of the company’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 $2,686,293.36. Following the completion of the sale, the chief operating officer now owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the sale, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Adam Blitzer sold 20,892 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 $2,686,293.36. Following the completion of the transaction, the chief operating officer now owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The disclosure for this sale can be found here. Insiders have sold 626,593 shares of company stock worth $80,422,044 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new position in Datadog during the 3rd quarter worth about $189,668,000. Quintet Private Bank Europe S.A. bought a new position in shares of Datadog during the third quarter worth about $270,000. Mengis Capital Management Inc. bought a new stake in Datadog in the 3rd quarter valued at approximately $409,000. Bank of New York Mellon Corp boosted its position in Datadog by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock worth $125,571,000 after acquiring an additional 33,748 shares during the last quarter. Finally, Cercano Management LLC boosted its position in Datadog by 40.4% during the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock worth $28,198,000 after acquiring an additional 89,019 shares during the last quarter. 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.