Datadog (NASDAQ:DDOG) Upgraded to Outperform at Wolfe Research

Wolfe Research upgraded shares of Datadog (NASDAQ:DDOG) from a peer perform rating to an outperform rating in a report released on Thursday, MarketBeat Ratings reports. They currently have $150.00 price objective on the stock.

DDOG has been the topic of several other reports. Cantor Fitzgerald restated an “overweight” rating and set a $134.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Morgan Stanley reduced their target price on Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Citigroup reduced their target price on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 14th. BTIG Research set a $136.00 price objective on shares of Datadog and gave the company a “buy” rating in a research note on Tuesday, May 6th. Finally, Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $142.25.

Datadog Stock Up 3.4%

Shares of NASDAQ DDOG opened at $122.68 on Thursday. The business’s 50 day moving average is $107.34 and its two-hundred day moving average is $123.79. The company has a market cap of $42.37 billion, a P/E ratio of 240.55, a P/E/G ratio of 44.03 and a beta of 1.01. Datadog has a 12 month low of $81.63 and a 12 month high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Sell-side analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 23,748 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $120.00, for a total value of $2,849,760.00. Following the completion of the transaction, the director now directly owns 396,121 shares of the company’s stock, valued at approximately $47,534,520. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the transaction, the chief executive officer now directly owns 563,598 shares of the company’s stock, valued at approximately $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 700,582 shares of company stock worth $77,926,597. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors have recently modified their holdings of DDOG. Wealth Enhancement Advisory Services LLC raised its holdings in Datadog by 32.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock worth $2,216,000 after buying an additional 3,760 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Datadog during the fourth quarter worth $14,884,000. ARK Investment Management LLC boosted its stake in Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after purchasing an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after purchasing an additional 30,998 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. 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.