Datadog (NASDAQ:DDOG) Price Target Raised to $165.00

Datadog (NASDAQ:DDOG) had its price target raised by UBS Group from $140.00 to $165.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on DDOG. Needham & Company LLC set a $140.00 target price on Datadog and gave the stock a “buy” rating in a report on Thursday, June 12th. Rosenblatt Securities dropped their target price on Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Cantor Fitzgerald upped their target price on Datadog from $134.00 to $171.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays upped their target price on Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Guggenheim reiterated a “sell” rating and set a $105.00 target price on shares of Datadog in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $145.34.

Datadog Stock Performance

Shares of Datadog stock opened at $145.02 on Wednesday. The firm has a market cap of $50.08 billion, a price-to-earnings ratio of 315.27, a price-to-earnings-growth ratio of 78.72 and a beta of 1.03. The stock’s 50-day moving average is $127.40 and its 200-day moving average is $120.76. Datadog has a one year low of $81.63 and a one year high of $170.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74.

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

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the transaction, the chief technology officer owned 466,535 shares of the company’s stock, valued at approximately $49,373,399.05. This represents a 21.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 47,306 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at $2,735,263.20. The trade was a 65.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 957,666 shares of company stock valued at $117,576,223 in the last ninety days. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Datadog

Large investors have recently added to or reduced their stakes in the stock. Putney Financial Group LLC acquired a new stake in Datadog during the fourth quarter worth approximately $32,000. Elequin Capital LP acquired a new stake in Datadog during the fourth quarter worth approximately $34,000. Coppell Advisory Solutions LLC grew its position in Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after buying an additional 177 shares in the last quarter. Costello Asset Management INC acquired a new stake in Datadog during the first quarter worth approximately $30,000. Finally, Summit Securities Group LLC acquired a new stake in Datadog during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.