Datadog (NASDAQ:DDOG) Upgraded to “Outperform” by Robert W. Baird

Robert W. Baird upgraded shares of Datadog (NASDAQ:DDOG) from a neutral rating to an outperform rating in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has $140.00 price objective on the stock, up from their previous price objective of $130.00.

A number of other equities analysts have also weighed in on the stock. Rosenblatt Securities restated a buy rating and set a $146.00 target price on shares of Datadog in a research report on Monday. Truist Financial boosted their target price on Datadog from $140.00 to $155.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Citigroup raised their price target on Datadog from $125.00 to $150.00 and gave the company a buy rating in a report on Monday, January 22nd. Wedbush reaffirmed an outperform rating and set a $155.00 price objective on shares of Datadog in a report on Monday. Finally, Royal Bank of Canada raised their target price on shares of Datadog from $145.00 to $151.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $135.58.

Datadog Price Performance

Shares of Datadog stock opened at $117.28 on Wednesday. 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 52 week low of $77.81 and a 52 week high of $138.61. The stock’s 50-day simple moving average is $124.57 and its 200-day simple moving average is $119.16. The company has a market capitalization of $38.92 billion, a price-to-earnings ratio of 977.33 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last posted 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. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. During the same period in the previous year, the firm earned ($0.08) EPS. The firm’s revenue was up 25.6% compared to the same quarter last year. As a group, analysts expect that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $125.41, for a total value of $10,739,736.17. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $42,294,146.27. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $130.28, for a total value of $1,954,200.00. Following the completion of the sale, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,851,883.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 712,230 shares of company stock worth $91,161,780. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Large investors have recently modified their holdings of the business. Norges Bank bought a new stake in Datadog during the fourth quarter valued at about $384,986,000. Massachusetts Financial Services Co. MA acquired a new stake in Datadog in the third quarter valued at approximately $189,668,000. Alkeon Capital Management LLC acquired a new stake in Datadog in the third quarter valued at approximately $127,526,000. Vanguard Group Inc. grew its holdings in Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after purchasing an additional 1,191,742 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 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.