Datadog’s (DDOG) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $140.00 target price on the stock.

Several other brokerages also recently commented on DDOG. Wells Fargo & Company cut their price target on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Canaccord Genuity Group cut their price target on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a report on Tuesday, May 6th. UBS Group upped their target price on shares of Datadog from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.59.

Datadog Stock Down 1.1%

Datadog stock opened at $118.63 on Wednesday. The company’s 50-day moving average price is $106.65 and its 200-day moving average price is $124.02. Datadog has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a market cap of $40.97 billion, a PE ratio of 232.61, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same period in the previous year, the firm posted $0.44 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 23,748 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $120.00, for a total transaction of $2,849,760.00. Following the transaction, the director now owns 396,121 shares in the company, valued at approximately $47,534,520. This represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the transaction, the chief executive officer now owns 548,715 shares in the company, valued at $66,784,102.65. The trade was a 16.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 700,582 shares of company stock valued at $77,926,597 over the last 90 days. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DDOG. Brighton Jones LLC acquired a new position in Datadog during the 4th quarter valued at approximately $209,000. Stratos Wealth Partners LTD. increased its stake in Datadog by 6.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,892 shares of the company’s stock valued at $556,000 after purchasing an additional 248 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in Datadog during the 4th quarter valued at approximately $765,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of Datadog in the fourth quarter worth $853,000. Finally, Legato Capital Management LLC purchased a new position in shares of Datadog during the fourth quarter worth $1,858,000. 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.