Datadog’s (DDOG) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Datadog (NASDAQ:DDOG) in a report released on Monday, Benzinga reports. They currently have a $146.00 price target on the stock.

Several other equities analysts also recently weighed in on the company. Mizuho lifted their target price on Datadog from $108.00 to $130.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. BMO Capital Markets reiterated an outperform rating and set a $155.00 price objective (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Robert W. Baird increased their target price on shares of Datadog from $120.00 to $130.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Stifel Nicolaus reaffirmed a buy rating and set a $152.00 price target on shares of Datadog in a report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $136.04.

Datadog Trading Up 2.2 %

Shares of NASDAQ:DDOG opened at $126.97 on Monday. The stock’s 50-day simple moving average is $124.94 and its two-hundred day simple moving average is $118.97. The stock has a market capitalization of $42.14 billion, a price-to-earnings ratio of 1,058.08 and a beta of 1.14. Datadog has a 52-week low of $75.02 and a 52-week high of $138.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 25.6% compared to the same quarter last year. Analysts expect that Datadog will post -0.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 23,924 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the completion of the sale, the chief financial officer now owns 275,191 shares in the company, valued at approximately $35,851,883.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $43,858,972.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 626,593 shares of company stock valued at $80,422,044. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Datadog during the 4th quarter valued at $384,986,000. Massachusetts Financial Services Co. MA purchased a new stake in Datadog in the third quarter worth about $189,668,000. Alkeon Capital Management LLC bought a new position in Datadog during the 3rd quarter worth about $127,526,000. Vanguard Group Inc. grew its holdings in Datadog by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after acquiring an additional 1,191,742 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares during the period. Hedge funds and other institutional investors 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.