BMO Capital Markets Lowers Datadog (NASDAQ:DDOG) Price Target to $140.00

Datadog (NASDAQ:DDOG) had its price target cut by equities research analysts at BMO Capital Markets from $155.00 to $140.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 20.83% from the stock’s previous close.

A number of other research analysts have also commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $152.00 price target on shares of Datadog in a report on Monday, April 22nd. William Blair reaffirmed an “outperform” rating on shares of Datadog in a research note on Friday, February 16th. Robert W. Baird upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $140.00 in a report on Wednesday. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.58.

Datadog Stock Performance

Datadog stock opened at $115.87 on Wednesday. The company has a market cap of $38.45 billion, a PE ratio of 965.58 and a beta of 1.14. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61. The company has a fifty day moving average price of $124.30 and a two-hundred day moving average price of $119.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17.

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

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 12th. The stock was 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 directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction 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 approximately $33,414,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the completion of the transaction, the chief executive officer now directly owns 337,247 shares in the company, valued at $42,294,146.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 712,530 shares of company stock worth $91,195,791. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Several institutional investors have recently made changes to their positions in DDOG. Norges Bank bought a new position in Datadog during the fourth quarter valued at approximately $384,986,000. Massachusetts Financial Services Co. MA bought a new position in shares of Datadog during the 3rd quarter valued at $189,668,000. Alkeon Capital Management LLC acquired a new stake in shares of Datadog in the 3rd quarter valued at $127,526,000. Vanguard Group Inc. boosted its holdings in Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after purchasing 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 fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.