Datadog’s (DDOG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $151.00 target price on the stock.

DDOG has been the subject of several other reports. Cantor Fitzgerald restated an overweight rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Monness Crespi & Hardt raised shares of Datadog from a sell rating to a neutral rating in a research note on Wednesday. Barclays reduced their price target on shares of Datadog from $145.00 to $140.00 and set an overweight rating on the stock in a research report on Friday. Evercore ISI assumed coverage on shares of Datadog in a research note on Monday, July 15th. They issued an outperform rating and a $150.00 price objective for the company. Finally, Baird R W raised Datadog from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of Moderate Buy and an average price target of $138.93.

Datadog Stock Performance

Shares of NASDAQ DDOG traded down $1.78 during midday trading on Friday, hitting $112.28. The company’s stock had a trading volume of 4,515,414 shares, compared to its average volume of 4,125,572. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog has a one year low of $77.81 and a one year high of $138.61. The firm has a market capitalization of $37.56 billion, a price-to-earnings ratio of 350.88, a P/E/G ratio of 37.24 and a beta of 1.11. The stock has a fifty day moving average price of $119.38 and a 200 day moving average price of $122.98.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $118.52, for a total value of $15,064,484.60. Following the completion of the sale, the chief technology officer now owns 290,412 shares in the company, valued at $34,419,630.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $118.52, for a total value of $15,064,484.60. Following the sale, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at $34,419,630.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 857,306 shares of company stock valued at $101,950,263. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in Datadog in the 1st quarter worth approximately $26,000. SouthState Corp acquired a new position in Datadog in the second quarter worth approximately $26,000. Raleigh Capital Management Inc. bought a new position in Datadog during the fourth quarter valued at approximately $29,000. Private Trust Co. NA lifted its stake in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Datadog during the 4th quarter valued at $33,000. 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.