Datadog (NASDAQ:DDOG) Trading 4.3% Higher Following Analyst Upgrade

Shares of Datadog, Inc. (NASDAQ:DDOG) traded up 4.3% during trading on Thursday after Needham & Company LLC raised their price target on the stock from $130.00 to $140.00. Needham & Company LLC currently has a buy rating on the stock. Datadog traded as high as $123.69 and last traded at $123.69. 893,606 shares traded hands during trading, a decline of 82% from the average session volume of 5,027,790 shares. The stock had previously closed at $118.63.

A number of other brokerages also recently weighed in on DDOG. DA Davidson lifted their target price on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Truist Financial lowered their target price on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Rosenblatt Securities decreased their price objective on Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Citigroup decreased their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Datadog in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $142.25.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the transaction, the chief executive officer now directly owns 548,715 shares in the company, valued at $66,784,102.65. This trade represents a 16.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 5,099 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $595,767.16. Following the sale, the general counsel now directly owns 115,490 shares in the company, valued at $13,493,851.60. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 700,582 shares of company stock worth $77,926,597 over the last ninety days. Company insiders own 8.70% of the company’s stock.

Institutional Trading of Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of DDOG. Inspire Investing LLC boosted its position in shares of Datadog by 70.4% in the 1st quarter. Inspire Investing LLC now owns 3,078 shares of the company’s stock worth $305,000 after purchasing an additional 1,272 shares in the last quarter. DLD Asset Management LP purchased a new position in shares of Datadog during the 1st quarter valued at about $1,379,000. Siren L.L.C. raised its stake in shares of Datadog by 55.9% during the 1st quarter. Siren L.L.C. now owns 47,425 shares of the company’s stock valued at $4,705,000 after buying an additional 17,000 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Datadog by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 769 shares of the company’s stock valued at $76,000 after purchasing an additional 115 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Datadog by 2.8% in the 1st quarter. IFM Investors Pty Ltd now owns 50,669 shares of the company’s stock valued at $5,027,000 after purchasing an additional 1,387 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

The stock has a market cap of $42.37 billion, a PE ratio of 240.55, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01. The company has a 50 day moving average of $107.34 and a two-hundred day moving average of $123.79.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. Datadog’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

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.