Rosenblatt Securities Reaffirms “Buy” Rating for Datadog (NASDAQ:DDOG)

Rosenblatt Securities restated their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $146.00 target price on the stock.

Several other research firms have also recently commented on DDOG. Cantor Fitzgerald reiterated an overweight rating and set a $150.00 price target on shares of Datadog in a report on Wednesday, April 17th. Stifel Nicolaus reissued a buy rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Mizuho raised their price target on Datadog from $108.00 to $130.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Wedbush reaffirmed an outperform rating and set a $155.00 price objective on shares of Datadog in a research report on Monday. Finally, Wolfe Research raised their target price on Datadog from $140.00 to $150.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $135.58.

Datadog Stock Performance

NASDAQ:DDOG opened at $117.28 on Monday. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a fifty day simple moving average of $124.57 and a two-hundred day simple moving average 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. The company has a market cap of $38.92 billion, a price-to-earnings ratio of 977.33 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. As a group, equities analysts anticipate that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were 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 owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares in the company, 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 valued at $91,161,780 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently modified their holdings of the stock. Motley Fool Asset Management LLC lifted its holdings in shares of Datadog by 8.6% in the first quarter. Motley Fool Asset Management LLC now owns 9,794 shares of the company’s stock valued at $1,211,000 after purchasing an additional 777 shares in the last quarter. ProShare Advisors LLC lifted its stake in Datadog by 27.3% in the 1st quarter. ProShare Advisors LLC now owns 300,491 shares of the company’s stock valued at $37,141,000 after buying an additional 64,361 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Datadog by 36.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock valued at $796,000 after buying an additional 1,713 shares during the last quarter. QRG Capital Management Inc. increased 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 buying an additional 234 shares in the last quarter. Finally, Donoghue Forlines LLC raised its holdings in shares of Datadog by 29.1% in 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.

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.