Datadog (NASDAQ:DDOG) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Datadog (NASDAQ:DDOG) in a report released on Wednesday morning, Benzinga reports. The firm currently has a $150.00 price target on the stock.

A number of other equities research analysts have also commented on DDOG. Canaccord Genuity Group restated a buy rating and set a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. William Blair reiterated an outperform rating on shares of Datadog in a research report on Friday, February 16th. Citigroup increased their price objective on Datadog from $125.00 to $150.00 and gave the company a buy rating in a research report on Monday, January 22nd. Wolfe Research increased their price objective on Datadog from $140.00 to $150.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $155.00 price objective (up from $140.00) on shares of Datadog in a research report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $130.52.

Datadog Stock Down 2.7 %

NASDAQ DDOG opened at $123.55 on Wednesday. The firm has a market cap of $41.00 billion, a PE ratio of 1,029.58 and a beta of 1.15. Datadog has a one year low of $62.60 and a one year high of $138.61. The stock’s 50 day simple moving average is $126.31 and its 200 day simple moving average is $115.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) EPS. As a group, sell-side analysts forecast that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other news, insider Madre Armelle De sold 600 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the sale, the insider now owns 100,353 shares of the company’s stock, valued at $12,578,245.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the completion of the sale, the chief operating officer now owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Madre Armelle De sold 600 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the sale, the insider now directly owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The disclosure for this sale can be found here. Insiders sold 745,984 shares of company stock valued at $95,917,681 over the last quarter. Corporate insiders own 14.97% of the company’s stock.

Institutional Trading of Datadog

A number of institutional investors have recently made changes to their positions in DDOG. Anchor Investment Management LLC bought a new stake in shares of Datadog in the fourth quarter worth $25,000. Riverview Trust Co bought a new stake in shares of Datadog in the first quarter worth $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Datadog in the fourth quarter worth $29,000. BluePath Capital Management LLC bought a new stake in shares of Datadog in the third quarter worth $31,000. Finally, Private Trust Co. NA lifted its position in shares of Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares in the last quarter. Institutional investors 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.