Datadog (NASDAQ:DDOG) Price Target Cut to $140.00

Datadog (NASDAQ:DDOG) had its target price lowered by equities researchers at BMO Capital Markets from $155.00 to $140.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 20.83% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Barclays raised their target price on Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Datadog in a report on Friday, February 16th. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Datadog in a report on Tuesday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $146.00 target price on shares of Datadog in a report on Monday. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.58.

Datadog Stock Performance

Shares of Datadog stock opened at $115.87 on Wednesday. Datadog has a one year low of $77.81 and a one year high of $138.61. The company has a market capitalization of $38.45 billion, a PE ratio of 965.58 and a beta of 1.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The company has a 50-day simple moving average of $124.30 and a two-hundred day simple moving average of $119.14.

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

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Amit Agarwal sold 33,311 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the transaction, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. Insiders have sold 712,530 shares of company stock valued at $91,195,791 in the last ninety days. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co acquired a new stake in shares of Datadog during the first quarter valued at about $26,000. Anchor Investment Management LLC purchased a new position in shares of Datadog during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. acquired a new stake in Datadog in the 4th quarter valued at approximately $29,000. Private Trust Co. NA raised its position in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in Datadog during the fourth quarter worth $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.