Datadog (NASDAQ:DDOG) Price Target Raised to $150.00 at Bank of America

Datadog (NASDAQ:DDOG) had its target price lifted by Bank of America from $138.00 to $150.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

DDOG has been the topic of several other research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $134.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Wolfe Research raised Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Thursday, June 12th. Scotiabank set a $130.00 price objective on Datadog and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Rosenblatt Securities decreased their price objective on Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of Datadog in a research report on Wednesday, June 11th. Six equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.52.

Datadog Stock Up 4.2%

Shares of Datadog stock opened at $130.04 on Wednesday. The stock has a market capitalization of $44.91 billion, a P/E ratio of 282.70, a PEG ratio of 69.19 and a beta of 1.01. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $109.91 and a two-hundred day moving average price of $123.00. Datadog has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. Equities analysts expect that Datadog will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Datadog

In related news, CFO David M. Obstler sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $125.25, for a total transaction of $2,505,000.00. Following the completion of the sale, the chief financial officer now directly owns 399,270 shares in the company, valued at $50,008,567.50. This represents a 4.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the sale, the chief executive officer now owns 563,598 shares of the company’s stock, valued at approximately $49,219,013.34. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 762,966 shares of company stock valued at $85,558,325 in the last ninety days. 8.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Datadog

Several large investors have recently bought and sold shares of DDOG. Brighton Jones LLC bought a new position in shares of Datadog during the fourth quarter worth about $209,000. Van ECK Associates Corp bought a new stake in Datadog during the fourth quarter worth $182,000. Blue Trust Inc. raised its stake in shares of Datadog by 354.7% in the fourth quarter. Blue Trust Inc. now owns 2,451 shares of the company’s stock valued at $350,000 after buying an additional 1,912 shares during the period. Principal Securities Inc. raised its stake in shares of Datadog by 32.1% in the fourth quarter. Principal Securities Inc. now owns 8,260 shares of the company’s stock valued at $1,180,000 after buying an additional 2,009 shares during the period. Finally, Allworth Financial LP grew its position in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after purchasing an additional 75 shares in the last quarter. 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.