Mizuho Raises Datadog (NASDAQ:DDOG) Price Target to $145.00

Datadog (NASDAQ:DDOG) had its price objective upped by analysts at Mizuho from $125.00 to $145.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 1.29% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Truist Financial reduced their price target on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a report on Monday, March 31st. Cantor Fitzgerald lifted their price objective on shares of Datadog from $134.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday. Guggenheim restated a “sell” rating and issued a $105.00 target price on shares of Datadog in a research report on Tuesday, July 8th. Morgan Stanley raised their price target on shares of Datadog from $115.00 to $165.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Finally, DA Davidson boosted their price objective on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.34.

Datadog Price Performance

DDOG opened at $143.15 on Wednesday. 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 company’s 50-day moving average price is $126.66 and its 200 day moving average price is $120.74. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm has a market cap of $49.44 billion, a price-to-earnings ratio of 311.20, a price-to-earnings-growth ratio of 76.64 and a beta of 1.03.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter last year, the business posted $0.44 EPS. The business’s 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 year.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 47,306 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the completion of the sale, the director directly owned 25,468 shares of the company’s stock, valued at $2,735,263.20. This represents a 65.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the transaction, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. This represents a 21.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 957,666 shares of company stock valued at $117,576,223 in the last three months. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock valued at $25,000 after acquiring an additional 22,646 shares during the period. Cornerstone Planning Group LLC raised its stake in Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock valued at $30,000 after purchasing an additional 154 shares during the period. Costello Asset Management INC purchased a new stake in shares of Datadog in the first quarter valued at $30,000. Putney Financial Group LLC acquired a new stake in shares of Datadog in the fourth quarter worth $32,000. Finally, Elequin Capital LP acquired a new position in Datadog during the fourth quarter valued at $34,000. 78.29% of the stock is currently 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.