Datadog, Inc. (NASDAQ:DDOG) Receives $130.52 Consensus Price Target from Brokerages

Datadog, Inc. (NASDAQ:DDOG) has earned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $130.96.

Several brokerages have weighed in on DDOG. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (up from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Truist Financial lifted their price target on Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Mizuho lifted their target price on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Robert W. Baird boosted their price objective on shares of Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th.

Datadog Price Performance

Shares of Datadog stock opened at $122.07 on Friday. The firm has a fifty day moving average price of $125.63 and a two-hundred day moving average price of $116.37. Datadog has a fifty-two week low of $62.60 and a fifty-two week high of $138.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The company has a market cap of $40.51 billion, a PE ratio of 1,017.25 and a beta of 1.16.

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

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares in the company, valued at $38,825,916.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO David M. Obstler sold 31,007 shares of Datadog stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $3,986,880.06. Following the sale, the chief financial officer now directly owns 275,191 shares in the company, valued at approximately $35,384,058.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the sale, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,825,916.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 745,984 shares of company stock worth $95,917,681. Corporate insiders own 14.97% of the company’s stock.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new position in Datadog in the 4th quarter worth approximately $25,000. Riverview Trust Co purchased a new position in Datadog in the 1st quarter worth approximately $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog in the 4th quarter worth approximately $29,000. BluePath Capital Management LLC purchased a new position in Datadog in the 3rd quarter worth approximately $31,000. Finally, Private Trust Co. NA increased its stake in Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Datadog Company Profile

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.