Stifel Nicolaus Reiterates “Buy” Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a research report issued on Monday, Benzinga reports. They currently have a $152.00 target price on the stock. Stifel Nicolaus’ target price suggests a potential upside of 20.22% from the company’s current price.

DDOG has been the topic of several other research reports. Needham & Company LLC increased their target price on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Mizuho increased their target price on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Robert W. Baird increased their target price on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Barclays increased their target price on Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Finally, Citigroup increased their price target on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $131.70.

Datadog Stock Performance

Shares of Datadog stock opened at $126.44 on Monday. Datadog has a 52 week low of $62.60 and a 52 week high of $138.61. The business’s fifty day simple moving average is $125.53 and its 200-day simple moving average is $116.60. The firm has a market cap of $41.96 billion, a PE ratio of 1,053.67 and a beta of 1.16. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling at Datadog

In other Datadog news, CFO David M. Obstler sold 70,000 shares of Datadog stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at approximately $33,223,809.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $120.73, for a total value of $8,451,100.00. Following the completion of the sale, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at $33,223,809.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 735,984 shares of company stock worth $94,617,681. 14.97% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Several hedge funds have recently modified their holdings of DDOG. CWM LLC raised its holdings in Datadog by 12.2% during the third quarter. CWM LLC now owns 5,289 shares of the company’s stock worth $482,000 after purchasing an additional 574 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in Datadog by 239.7% during the third quarter. Ronald Blue Trust Inc. now owns 727 shares of the company’s stock worth $72,000 after purchasing an additional 513 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Datadog by 54.5% during the third quarter. Global Retirement Partners LLC now owns 649 shares of the company’s stock worth $57,000 after purchasing an additional 229 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in Datadog by 6.9% during the third quarter. Flagship Harbor Advisors LLC now owns 2,339 shares of the company’s stock worth $213,000 after purchasing an additional 150 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Datadog by 83.6% during the third quarter. Exchange Traded Concepts LLC now owns 10,984 shares of the company’s stock worth $1,001,000 after purchasing an additional 5,002 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.