Needham & Company LLC Reaffirms “Buy” Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $165.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 40.69% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Robert W. Baird upped their price objective on shares of Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Citigroup upped their price objective on shares of Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Mizuho upped their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (up previously from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $135.58.

Datadog Stock Performance

Shares of Datadog stock opened at $117.28 on Tuesday. The company has a market capitalization of $38.92 billion, a PE ratio of 977.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The company has a 50-day simple moving average of $124.57 and a two-hundred day simple moving average of $119.16. Datadog has a one year low of $77.81 and a one year high of $138.61.

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

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated 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 approximately $33,414,012.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Datadog news, COO Adam Blitzer sold 20,892 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the transaction, the chief operating officer now owns 203,503 shares in the company, valued at approximately $26,166,415.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the sale, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The disclosure for this sale can be found here. Insiders have sold a total of 712,230 shares of company stock worth $91,161,780 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Motley Fool Asset Management LLC boosted its position in Datadog by 8.6% during the first quarter. Motley Fool Asset Management LLC now owns 9,794 shares of the company’s stock worth $1,211,000 after acquiring an additional 777 shares during the last quarter. ProShare Advisors LLC boosted its position in Datadog by 27.3% during the first quarter. ProShare Advisors LLC now owns 300,491 shares of the company’s stock worth $37,141,000 after acquiring an additional 64,361 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in Datadog by 36.2% during the first quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock worth $796,000 after acquiring an additional 1,713 shares during the last quarter. QRG Capital Management Inc. boosted its position in Datadog by 3.1% during the first quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock worth $976,000 after acquiring an additional 234 shares during the last quarter. Finally, Donoghue Forlines LLC boosted its position in Datadog by 29.1% during the first quarter. Donoghue Forlines LLC now owns 3,750 shares of the company’s stock worth $464,000 after acquiring an additional 846 shares during the last quarter. 78.29% of the stock is currently 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.