Datadog (NASDAQ:DDOG) Coverage Initiated by Analysts at Moffett Nathanson

Moffett Nathanson initiated coverage on shares of Datadog (NASDAQ:DDOGGet Rating) in a report released on Thursday morning, The Fly reports. The firm issued a buy rating and a $143.00 price objective on the stock.

A number of other research analysts have also recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Datadog in a report on Thursday, July 7th. They issued a hold rating and a $120.00 price target on the stock. Rosenblatt Securities dropped their target price on shares of Datadog from $180.00 to $146.00 and set a buy rating on the stock in a report on Friday, July 29th. KeyCorp dropped their target price on shares of Datadog from $132.00 to $127.00 and set an overweight rating on the stock in a report on Friday, August 5th. Sanford C. Bernstein began coverage on shares of Datadog in a report on Tuesday, July 19th. They set an outperform rating and a $172.00 target price on the stock. Finally, Raymond James dropped their target price on shares of Datadog from $170.00 to $140.00 and set an outperform rating on the stock in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Datadog currently has a consensus rating of Moderate Buy and an average target price of $148.50.

Datadog Trading Down 5.4 %

NASDAQ DDOG opened at $89.44 on Thursday. The company’s 50-day moving average price is $101.78 and its 200-day moving average price is $110.61. The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.61. The stock has a market cap of $28.30 billion, a PE ratio of 8,952.95 and a beta of 1.13. Datadog has a 12 month low of $81.12 and a 12 month high of $199.68.

Datadog (NASDAQ:DDOGGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The firm had revenue of $406.14 million for the quarter, compared to analysts’ expectations of $381.28 million. Datadog had a net margin of 0.48% and a return on equity of 2.24%. The business’s revenue for the quarter was up 73.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.02) earnings per share. Equities research analysts forecast that Datadog will post -0.14 earnings per share for the current year.

Insider Activity at Datadog

In related news, CFO David M. Obstler sold 5,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $100.25, for a total value of $501,250.00. Following the transaction, the chief financial officer now owns 209,810 shares in the company, valued at approximately $21,033,452.50. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO David M. Obstler sold 5,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $100.25, for a total value of $501,250.00. Following the transaction, the chief financial officer now owns 209,810 shares in the company, valued at approximately $21,033,452.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Amit Agarwal sold 2,500 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $104.88, for a total transaction of $262,200.00. Following the completion of the transaction, the insider now owns 184,833 shares in the company, valued at approximately $19,385,285.04. The disclosure for this sale can be found here. Insiders sold 94,052 shares of company stock valued at $10,159,510 in the last three months. 15.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

A number of hedge funds and other institutional investors have recently made changes to their positions in DDOG. ICONIQ Capital LLC grew its stake in shares of Datadog by 245.4% during the 1st quarter. ICONIQ Capital LLC now owns 15,791,929 shares of the company’s stock worth $2,392,003,000 after purchasing an additional 11,219,544 shares during the period. Public Investment Fund acquired a new stake in shares of Datadog during the 2nd quarter worth approximately $428,470,000. Sands Capital Management LLC acquired a new stake in shares of Datadog during the 2nd quarter worth approximately $204,001,000. WCM Investment Management LLC acquired a new stake in shares of Datadog during the 2nd quarter worth approximately $204,865,000. Finally, Norges Bank acquired a new stake in shares of Datadog during the 4th quarter worth approximately $360,540,000. Institutional investors and hedge funds own 71.98% of the company’s stock.

Datadog Company Profile

(Get Rating)

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

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