Cantor Fitzgerald Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its target price hoisted by Cantor Fitzgerald from $134.00 to $171.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 19.46% from the company’s current price.

A number of other research firms have also recently weighed in on DDOG. Wells Fargo & Company lowered their target price on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Rosenblatt Securities dropped their price objective on Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Guggenheim reissued a “sell” rating and set a $105.00 target price on shares of Datadog in a research note on Tuesday, July 8th. Scotiabank set a $130.00 price target on Datadog and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, DA Davidson lifted their price objective on shares of Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.34.

Datadog Stock Up 2.7%

DDOG opened at $143.15 on Wednesday. The stock has a market capitalization of $49.44 billion, a price-to-earnings ratio of 311.20, a PEG ratio of 76.64 and a beta of 1.03. The firm has a 50 day moving average price of $126.66 and a 200-day moving average price of $120.74. Datadog has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34.

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

Insider Transactions at Datadog

In other Datadog news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the sale, the director directly owned 76,052 shares of the company’s stock, valued at $8,899,605.04. The trade was a 24.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David M. Obstler sold 35,016 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the completion of the transaction, the chief financial officer directly owned 399,270 shares of the company’s stock, valued at $46,874,298. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 957,666 shares of company stock valued at $117,576,223 in the last 90 days. Insiders own 8.70% of the company’s stock.

Institutional Trading of Datadog

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Datadog by 32.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock worth $2,216,000 after purchasing an additional 3,760 shares during the last quarter. LBP AM SA boosted its stake in shares of Datadog by 40.2% during the first quarter. LBP AM SA now owns 419,805 shares of the company’s stock worth $41,649,000 after buying an additional 120,343 shares during the period. Berkshire Capital Holdings Inc. grew its holdings in shares of Datadog by 731,900.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 73,200 shares of the company’s stock worth $10,460,000 after buying an additional 73,190 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Datadog by 24.7% during the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company’s stock worth $78,112,000 after buying an additional 156,152 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. acquired a new position in Datadog in the 4th quarter valued at about $314,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.