Datadog, Inc. (NASDAQ:DDOG) Given Average Recommendation of “Moderate Buy” by Analysts

Datadog, Inc. (NASDAQ:DDOG) has been given a consensus recommendation of “Moderate Buy” by the thirty-one research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, twenty-six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $142.54.

DDOG has been the topic of several recent research reports. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the company from $115.00 to $140.00 in a research note on Tuesday, October 1st. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. BNP Paribas assumed coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. BMO Capital Markets boosted their price objective on shares of Datadog from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Monday, July 22nd.

Datadog Stock Performance

Shares of DDOG stock opened at $125.05 on Wednesday. The stock has a market cap of $42.16 billion, a PE ratio of 277.90, a PEG ratio of 22.51 and a beta of 1.10. Datadog has a 52-week low of $79.07 and a 52-week high of $138.61. The firm’s 50 day moving average price is $118.91 and its two-hundred day moving average price is $119.43.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. As a group, sell-side analysts predict that Datadog will post 0.42 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the completion of the sale, the chief financial officer now owns 314,158 shares in the company, valued at approximately $40,963,061.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Shardul Shah sold 15,832 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the completion of the transaction, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David M. Obstler sold 33,333 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $40,963,061.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,291 shares of company stock worth $54,154,859 in the last quarter. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several hedge funds have recently made changes to their positions in DDOG. First Trust Direct Indexing L.P. grew its position in shares of Datadog by 17.4% in the first quarter. First Trust Direct Indexing L.P. now owns 2,093 shares of the company’s stock valued at $259,000 after purchasing an additional 310 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Datadog by 11.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,134 shares of the company’s stock valued at $264,000 after acquiring an additional 216 shares during the period. Nordea Investment Management AB grew its position in Datadog by 7.4% during the 1st quarter. Nordea Investment Management AB now owns 35,971 shares of the company’s stock worth $4,472,000 after acquiring an additional 2,464 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Datadog by 33.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 9,338 shares of the company’s stock worth $1,154,000 after acquiring an additional 2,343 shares during the last quarter. Finally, Mitchell Capital Management Co. purchased a new position in Datadog in the 1st quarter worth approximately $4,667,000. 78.29% of the stock is currently owned by institutional investors.

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.