Datadog (NASDAQ:DDOG) Price Target Raised to $145.00

Datadog (NASDAQ:DDOG) had its price objective boosted by Mizuho from $125.00 to $145.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also issued reports on DDOG. Bank of America boosted their price objective on Datadog from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Stifel Nicolaus boosted their price target on Datadog from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, June 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $119.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Morgan Stanley boosted their price target on Datadog from $115.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Needham & Company LLC set a $140.00 price target on Datadog and gave the stock a “buy” rating in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $145.34.

Datadog Trading Up 1.3%

NASDAQ:DDOG opened at $145.02 on Wednesday. Datadog has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a market capitalization of $50.08 billion, a P/E ratio of 315.27, a P/E/G ratio of 78.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The business has a 50 day simple moving average of $127.40 and a 200 day simple moving average of $120.76.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities research analysts predict that Datadog will post 0.34 EPS for the current year.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 32,924 shares of the business’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $146.05, for a total transaction of $4,808,550.20. Following the sale, the chief executive officer directly owned 548,715 shares of the company’s stock, valued at $80,139,825.75. The trade was a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Sean Michael Walters sold 9,469 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total value of $1,420,350.00. Following the sale, the executive directly owned 212,324 shares in the company, valued at $31,848,600. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 957,666 shares of company stock valued at $117,576,223 over the last ninety days. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. QTR Family Wealth LLC acquired a new position in Datadog during the second quarter valued at $235,000. LBP AM SA raised its position in Datadog by 3.3% during the second quarter. LBP AM SA now owns 433,751 shares of the company’s stock valued at $58,266,000 after buying an additional 13,946 shares during the period. Truist Financial Corp raised its position in Datadog by 0.4% during the second quarter. Truist Financial Corp now owns 48,615 shares of the company’s stock valued at $6,530,000 after buying an additional 205 shares during the period. Janney Montgomery Scott LLC raised its position in Datadog by 25.4% during the second quarter. Janney Montgomery Scott LLC now owns 10,313 shares of the company’s stock valued at $1,385,000 after buying an additional 2,087 shares during the period. Finally, GC Wealth Management RIA LLC acquired a new position in Datadog during the second quarter valued at $1,017,000. 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.