JMP Securities Reiterates “Market Perform” Rating for Datadog (NASDAQ:DDOG)

JMP Securities reaffirmed their market perform rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Friday morning,Benzinga reports.

Other equities analysts also recently issued reports about the company. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 7th. BMO Capital Markets upped their price target on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Mizuho upped their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. DA Davidson upped their price target on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price target on shares of Datadog in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $158.39.

Datadog Stock Performance

Shares of Datadog stock opened at $131.01 on Friday. Datadog has a one year low of $98.80 and a one year high of $170.08. The company has a market cap of $44.51 billion, a PE ratio of 247.19, a P/E/G ratio of 16.83 and a beta of 1.15. The business has a 50-day simple moving average of $145.10 and a 200-day simple moving average of $131.13.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%. On average, sell-side analysts predict that Datadog will post 0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 33,334 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $135.95, for a total value of $4,531,757.30. Following the completion of the transaction, the chief financial officer now owns 314,158 shares in the company, valued at $42,709,780.10. This trade represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the completion of the transaction, the president now owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 627,586 shares of company stock worth $92,540,479. 11.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the fourth quarter valued at $30,000. Avior Wealth Management LLC boosted its stake in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in shares of Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after acquiring an additional 177 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. 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.