Datadog (NASDAQ:DDOG) Lifted to “Buy” at DA Davidson

DA Davidson upgraded shares of Datadog (NASDAQ:DDOG) from a neutral rating to a buy rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has $140.00 price target on the stock, up from their prior price target of $115.00.

A number of other equities analysts have also commented on DDOG. Scotiabank reduced their target price on shares of Datadog from $145.00 to $135.00 and set a sector outperform rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald restated an overweight rating and set a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. Wedbush reiterated an outperform rating and issued a $155.00 target price on shares of Datadog in a report on Friday, August 9th. BMO Capital Markets cut their price target on Datadog from $140.00 to $132.00 and set an outperform rating on the stock in a research note on Friday, August 9th. Finally, Loop Capital restated a buy rating and issued a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $140.85.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $117.53 on Tuesday. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The company has a market cap of $39.31 billion, a price-to-earnings ratio of 367.28, a PEG ratio of 28.94 and a beta of 1.11. The business’s 50 day moving average price is $113.43 and its 200-day moving average price is $119.19.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. Sell-side analysts predict that Datadog will post 0.42 earnings per share for the current year.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The disclosure for this sale can be found here. Insiders sold 422,991 shares of company stock worth $50,448,980 in the last 90 days. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DDOG. SouthState Corp purchased a new position in shares of Datadog during the 2nd quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in Datadog during the first quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog in the fourth quarter valued at $29,000. Jones Financial Companies Lllp acquired a new position in shares of Datadog in the fourth quarter worth about $33,000. Finally, Blue Trust Inc. purchased a new stake in shares of Datadog during the 2nd quarter worth about $37,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.