Datadog (NASDAQ:DDOG) Rating Reiterated by Wedbush

Datadog (NASDAQ:DDOG)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $155.00 target price on the stock. Wedbush’s price target points to a potential upside of 37.90% from the stock’s previous close.

DDOG has been the topic of several other research reports. Barclays lifted their target price on shares of Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research note on Wednesday, April 17th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (up previously from $140.00) on shares of Datadog in a research report on Wednesday, February 14th. Stifel Nicolaus reissued a “buy” rating and issued a $152.00 price objective on shares of Datadog in a research note on Monday, April 22nd. Finally, Truist Financial lifted their target price on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $136.04.

Datadog Price Performance

Shares of Datadog stock opened at $112.40 on Monday. The firm has a market cap of $37.30 billion, a PE ratio of 936.67 and a beta of 1.14. The business has a 50-day moving average price of $124.57 and a 200 day moving average price of $119.16. 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 has a twelve month low of $75.02 and a twelve month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $568.73 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. Sell-side analysts predict that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $43,858,972.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the sale, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total value of $3,111,316.20. Following the transaction, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 626,593 shares of company stock worth $80,422,044. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Anchor Investment Management LLC purchased a new stake in shares of Datadog during the 4th quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in Datadog in the first quarter valued at $26,000. Raleigh Capital Management Inc. acquired a new position in Datadog in the fourth quarter valued at $29,000. BluePath Capital Management LLC purchased a new position in shares of Datadog during the third quarter worth about $31,000. Finally, Private Trust Co. NA increased its position in shares of Datadog by 743.3% during 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. 78.29% of the stock is owned by institutional investors and hedge funds.

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.