Datadog (NASDAQ:DDOG) Rating Lowered to Neutral at Mizuho

Datadog (NASDAQ:DDOG) was downgraded by equities research analysts at Mizuho from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. They presently have a $108.00 price target on the stock. Mizuho’s price target would indicate a potential upside of 5.68% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein upped their price objective on shares of Datadog from $127.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and dropped their price objective for the company from $115.00 to $90.00 in a report on Tuesday, August 8th. Robert W. Baird downgraded shares of Datadog from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $100.00 to $84.00 in a report on Monday, October 30th. UBS Group assumed coverage on shares of Datadog in a report on Monday, October 2nd. They issued a “neutral” rating and a $100.00 price target on the stock. Finally, Barclays lowered their price target on shares of Datadog from $134.00 to $104.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.21.

Datadog Trading Up 28.5 %

Shares of DDOG opened at $102.20 on Wednesday. Datadog has a fifty-two week low of $61.34 and a fifty-two week high of $118.02. The business has a 50-day moving average of $90.21 and a 200 day moving average of $92.93. The firm has a market cap of $33.22 billion, a P/E ratio of -393.08, a price-to-earnings-growth ratio of 939.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.42 and a current ratio of 3.41.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. The business had revenue of $509.46 million for the quarter, compared to the consensus estimate of $501.55 million. Datadog had a negative net margin of 4.38% and a negative return on equity of 4.66%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share.

Insider Transactions at Datadog

In related news, CFO David M. Obstler sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $81.41, for a total value of $814,100.00. Following the completion of the sale, the chief financial officer now owns 260,617 shares of the company’s stock, valued at $21,216,829.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Adam Blitzer sold 15,572 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $89.23, for a total value of $1,389,489.56. Following the completion of the sale, the chief operating officer now owns 204,444 shares of the company’s stock, valued at $18,242,538.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David M. Obstler sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $81.41, for a total value of $814,100.00. Following the completion of the sale, the chief financial officer now directly owns 260,617 shares of the company’s stock, valued at approximately $21,216,829.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,029,682 shares of company stock worth $95,726,702. Insiders own 14.97% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Bank Julius Baer & Co. Ltd Zurich lifted its position in Datadog by 61,592.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,810,414 shares of the company’s stock valued at $1,161,909,000 after buying an additional 11,791,270 shares during the period. Baillie Gifford & Co. lifted its position in Datadog by 70.5% during the second quarter. Baillie Gifford & Co. now owns 10,391,637 shares of the company’s stock valued at $1,022,329,000 after buying an additional 4,296,835 shares during the period. Norges Bank purchased a new position in shares of Datadog in the 4th quarter worth about $202,877,000. 1832 Asset Management L.P. raised its position in shares of Datadog by 166.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,507,400 shares of the company’s stock worth $246,678,000 after purchasing an additional 1,565,400 shares during the last quarter. Finally, WCM Investment Management LLC raised its position in shares of Datadog by 30.4% in the 2nd quarter. WCM Investment Management LLC now owns 6,204,173 shares of the company’s stock worth $610,367,000 after purchasing an additional 1,446,993 shares during the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.