Datadog (NASDAQ:DDOG) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $155.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial increased their target price on shares of Datadog from $140.00 to $155.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Canaccord Genuity Group reiterated a buy rating and issued a $150.00 target price on shares of Datadog in a research note on Friday, February 23rd. Stifel Nicolaus reissued a buy rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Wolfe Research raised their price target on Datadog from $140.00 to $150.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Finally, Citigroup increased their target price on Datadog from $125.00 to $150.00 and gave the stock a buy rating in a report on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $136.04.

Datadog Stock Up 2.2 %

NASDAQ DDOG opened at $126.97 on Monday. Datadog has a 1-year low of $75.02 and a 1-year high of $138.61. The company has a market capitalization of $42.14 billion, a price-to-earnings ratio of 1,058.08 and a beta of 1.14. The stock’s 50 day moving average is $124.94 and its two-hundred day moving average is $118.97. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same quarter in the previous year, the firm earned ($0.08) EPS. Datadog’s quarterly revenue was up 25.6% on a year-over-year basis. Equities analysts forecast that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares in the company, valued at $33,414,012.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,851,883.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 626,593 shares of company stock worth $80,422,044. 11.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Several large investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new position in shares of Datadog in the 3rd quarter valued at approximately $189,668,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Datadog during the third quarter worth $270,000. Mengis Capital Management Inc. acquired a new stake in shares of Datadog during the third quarter worth $409,000. Bank of New York Mellon Corp lifted its position in Datadog by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock valued at $125,571,000 after acquiring an additional 33,748 shares in the last quarter. Finally, Cercano Management LLC boosted its stake in Datadog by 40.4% in the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock worth $28,198,000 after purchasing an additional 89,019 shares during the period. 78.29% of the stock is currently owned by 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.