Datadog (NASDAQ:DDOG) Upgraded to Outperform at Robert W. Baird

Datadog (NASDAQ:DDOG) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $140.00 target price on the stock, up from their previous target price of $130.00. Robert W. Baird’s price target indicates a potential upside of 20.83% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Citigroup upped their target price on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Tuesday. Truist Financial lifted their target price on Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Mizuho boosted their target price on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, William Blair restated an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Four analysts have rated the stock with a hold rating and twenty-four have issued 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 $135.58.

Datadog Stock Down 1.2 %

Shares of NASDAQ DDOG opened at $115.87 on Wednesday. The stock has a market capitalization of $38.45 billion, a P/E ratio of 965.58 and a beta of 1.14. The stock’s fifty day moving average is $124.30 and its 200 day moving average is $119.14. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61. 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 (NASDAQ:DDOG) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating 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 analyst estimates of $568.73 million. During the same period last year, the firm earned ($0.08) EPS. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Sell-side analysts forecast that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the transaction, the insider now directly owns 100,053 shares of the company’s stock, valued at approximately $11,343,008.61. The disclosure for this sale can be found here. Insiders have sold 712,530 shares of company stock worth $91,195,791 over the last ninety days. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Datadog by 96.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,433 shares of the company’s stock worth $3,045,000 after acquiring an additional 16,410 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Datadog by 5.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 46,731 shares of the company’s stock valued at $4,257,000 after purchasing an additional 2,462 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Datadog during the third quarter worth $363,000. IFM Investors Pty Ltd lifted its stake in shares of Datadog by 0.8% in the third quarter. IFM Investors Pty Ltd now owns 49,232 shares of the company’s stock valued at $4,485,000 after buying an additional 405 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Datadog by 25.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 341,516 shares of the company’s stock valued at $31,109,000 after buying an additional 68,705 shares during the last quarter. Institutional investors 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.