UBS Group Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its price target upped by research analysts at UBS Group from $140.00 to $165.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 15.26% from the stock’s previous close.

A number of other research analysts have also weighed in on DDOG. Needham & Company LLC set a $140.00 price objective on Datadog and gave the company a “buy” rating in a research report on Thursday, June 12th. Wolfe Research upgraded Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research report on Thursday, June 12th. Jefferies Financial Group reissued a “buy” rating on shares of Datadog in a report on Tuesday, May 6th. Scotiabank set a $130.00 price target on shares of Datadog and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, Rosenblatt Securities lowered their price objective on shares of Datadog from $160.00 to $150.00 and set a “buy” rating for the company 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, the company has a consensus rating of “Moderate Buy” and an average price target of $145.34.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $143.15 on Wednesday. Datadog has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a market capitalization 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. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $126.66 and a 200 day moving average of $120.74.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Datadog’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts anticipate that Datadog will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 32,924 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $146.05, for a total value of $4,808,550.20. Following the completion of the sale, the chief executive officer directly owned 548,715 shares in the company, valued at approximately $80,139,825.75. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 41,468 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $139.27, for a total value of $5,775,248.36. Following the completion of the sale, the chief technology officer directly owned 452,769 shares in the company, valued at approximately $63,057,138.63. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 957,666 shares of company stock worth $117,576,223. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Datadog

A number of large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Datadog by 32.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock valued at $2,216,000 after buying an additional 3,760 shares during the period. LBP AM SA boosted its position in Datadog by 40.2% during the first quarter. LBP AM SA now owns 419,805 shares of the company’s stock valued at $41,649,000 after purchasing an additional 120,343 shares during the last quarter. Berkshire Capital Holdings Inc. grew its stake in Datadog by 731,900.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 73,200 shares of the company’s stock valued at $10,460,000 after purchasing an additional 73,190 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Datadog by 24.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company’s stock worth $78,112,000 after purchasing an additional 156,152 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. purchased a new stake in shares of Datadog during the 4th quarter worth about $314,000. 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.