Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, UBS Group Analyst Says

Datadog (NASDAQ:DDOG) had its target price hoisted by UBS Group from $120.00 to $125.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Macquarie restated an “outperform” rating and set a $200.00 price objective on shares of Datadog in a report on Tuesday, February 11th. Truist Financial cut their price target on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Morgan Stanley dropped their target price on Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Rosenblatt Securities decreased their price target on shares of Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, Canaccord Genuity Group cut their price objective on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given 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 $141.54.

Datadog Stock Down 1.2 %

DDOG stock opened at $107.88 on Wednesday. Datadog has a twelve month low of $81.63 and a twelve month high of $170.08. The business’s fifty day moving average is $100.20 and its 200-day moving average is $125.81. The company has a market cap of $36.98 billion, a P/E ratio of 211.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm 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%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. Research analysts anticipate that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now directly owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the sale, the chief executive officer now owns 435,793 shares in the company, valued at $47,745,481.08. This represents a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 559,867 shares of company stock valued at $57,550,902 in the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Datadog by 40.3% during the 4th quarter. GAMMA Investing LLC now owns 790 shares of the company’s stock worth $113,000 after buying an additional 227 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Datadog by 21.2% in the fourth quarter. Nordea Investment Management AB now owns 58,256 shares of the company’s stock worth $8,376,000 after acquiring an additional 10,199 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Datadog by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company’s stock valued at $1,698,000 after purchasing an additional 137 shares in the last quarter. Green Alpha Advisors LLC grew its holdings in shares of Datadog by 18.3% during the 4th quarter. Green Alpha Advisors LLC now owns 3,301 shares of the company’s stock valued at $472,000 after purchasing an additional 511 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in Datadog during the 4th quarter worth approximately $43,000. 78.29% of the stock is currently owned by institutional investors.

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.