Datadog (NASDAQ:DDOG) Stock Rating Upgraded by Wells Fargo & Company

Datadog (NASDAQ:DDOG) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $150.00 price objective on the stock, up from their previous price objective of $130.00. Wells Fargo & Company‘s target price would suggest a potential upside of 18.05% from the company’s current price.

Other research analysts have also issued reports about the stock. Wolfe Research raised their target price on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (up from $140.00) on shares of Datadog in a research report on Wednesday, February 14th. William Blair restated an “outperform” rating on shares of Datadog in a research report on Friday, February 16th. Royal Bank of Canada raised their price target on Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $152.00 price target on shares of Datadog in a research report on Monday. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.70.

Datadog Trading Up 0.5 %

Shares of DDOG opened at $127.07 on Tuesday. 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 has a 1 year low of $62.60 and a 1 year high of $138.61. The company has a 50 day simple moving average of $125.35 and a two-hundred day simple moving average of $116.67. The firm has a market cap of $42.17 billion, a P/E ratio of 1,058.92 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same period last year, the firm posted ($0.08) earnings per share. Datadog’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities analysts expect that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $125.34, for a total value 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 735,984 shares of company stock worth $94,617,681 over the last three months. 14.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Datadog by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after acquiring an additional 734,539 shares during the period. Sands Capital Management LLC lifted its holdings in Datadog by 3.7% in the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after acquiring an additional 162,108 shares during the period. Norges Bank acquired a new position in Datadog in the fourth quarter valued at approximately $384,986,000. Massachusetts Financial Services Co. MA lifted its holdings in Datadog by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after acquiring an additional 651,244 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after acquiring an additional 848,000 shares during the period. 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.