Datadog (NASDAQ:DDOG) Given New $135.00 Price Target at Stifel Nicolaus

Datadog (NASDAQ:DDOG) had its price objective increased by Stifel Nicolaus from $120.00 to $135.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other analysts have also weighed in on DDOG. Jefferies Financial Group reissued a “buy” rating on shares of Datadog in a report on Tuesday, May 6th. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Datadog in a research report on Wednesday, June 11th. Macquarie dropped their target price on shares of Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Canaccord Genuity Group cut their target price on shares of Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, BTIG Research set a $136.00 price target on shares of Datadog and gave the company a “buy” rating in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Datadog Trading Up 0.7%

Shares of DDOG stock opened at $131.12 on Thursday. The business’s fifty day moving average price is $114.44 and its 200 day moving average price is $121.71. The firm has a market capitalization of $45.28 billion, a PE ratio of 285.05, a P/E/G ratio of 72.05 and a beta of 1.01. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Datadog will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, COO Adam Blitzer sold 15,603 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $1,823,054.52. Following the transaction, the chief operating officer now owns 212,969 shares in the company, valued at approximately $24,883,297.96. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Kerry Acocella sold 5,099 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total transaction of $595,767.16. Following the sale, the general counsel now owns 115,490 shares of the company’s stock, valued at approximately $13,493,851.60. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 901,778 shares of company stock valued at $103,817,113 in the last ninety days. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently made changes to their positions in DDOG. Wealth Enhancement Advisory Services LLC increased its holdings in Datadog by 32.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock valued at $2,216,000 after purchasing an additional 3,760 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Datadog in the fourth quarter worth about $14,884,000. Cullen Frost Bankers Inc. grew its stake in shares of Datadog by 3.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock valued at $10,358,000 after buying an additional 2,451 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Datadog by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,254,538 shares of the company’s stock valued at $179,261,000 after buying an additional 77,961 shares during the period. Finally, Berkshire Capital Holdings Inc. raised its holdings in shares of Datadog by 731,900.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 73,200 shares of the company’s stock valued at $10,460,000 after buying an additional 73,190 shares during the period. Institutional investors and hedge funds 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.