Datadog’s (DDOG) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Datadog (NASDAQ:DDOG) in a research note published on Thursday,Benzinga reports. They currently have a $175.00 price target on the stock.

A number of other brokerages have also weighed in on DDOG. Guggenheim restated a “sell” rating and issued a $105.00 target price on shares of Datadog in a research note on Tuesday, July 8th. Stifel Nicolaus upped their target price on Datadog from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, June 26th. Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Datadog in a research note on Wednesday, June 11th. BTIG Research set a $136.00 target price on Datadog and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Finally, Wolfe Research upgraded Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 target price on the stock in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.93.

Datadog Stock Performance

NASDAQ:DDOG opened at $127.25 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.74 and a current ratio of 3.43. Datadog has a 52-week low of $81.63 and a 52-week high of $170.08. The firm has a market cap of $44.38 billion, a price-to-earnings ratio of 363.58, a PEG ratio of 60.90 and a beta of 1.02. The business’s fifty day moving average is $135.95 and its 200 day moving average is $120.18.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. Research analysts predict that Datadog will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 76,052 shares of the company’s stock, valued at $8,899,605.04. This represents a 24.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the chief financial officer directly owned 399,270 shares of the company’s stock, valued at $46,874,298. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 846,051 shares of company stock worth $107,936,283. 8.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DDOG. Goldman Sachs Group Inc. lifted its stake in shares of Datadog by 259.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock valued at $858,994,000 after purchasing an additional 6,250,942 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the period. Brown Advisory Inc. lifted its stake in shares of Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after purchasing an additional 2,654,512 shares during the period. Norges Bank purchased a new position in shares of Datadog in the 2nd quarter valued at approximately $347,728,000. Finally, Dragoneer Investment Group LLC lifted its stake in shares of Datadog by 729.5% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,254,563 shares of the company’s stock valued at $302,855,000 after purchasing an additional 1,982,763 shares during the period. Hedge funds and other institutional investors 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.