Datadog’s (DDOG) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Monday, Benzinga reports. Wedbush currently has a $155.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. William Blair reaffirmed an outperform rating on shares of Datadog in a report on Friday, February 16th. Barclays lifted their price objective on shares of Datadog from $138.00 to $152.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Mizuho lifted their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Canaccord Genuity Group reiterated a buy rating and issued a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Finally, Truist Financial lifted their price objective on shares of Datadog from $140.00 to $155.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $135.58.

Datadog Stock Up 4.3 %

DDOG stock opened at $117.28 on Monday. The company’s 50 day moving average is $124.57 and its two-hundred day moving average is $119.16. The stock has a market cap of $38.92 billion, a P/E ratio of 977.33 and a beta of 1.14. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37.

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

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the sale, the chief technology officer now owns 247,328 shares in the company, valued at $33,414,012.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the sale, the chief technology officer now owns 247,328 shares in the company, valued at $33,414,012.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the sale, the chief executive officer now owns 337,247 shares in the company, valued at approximately $42,294,146.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 712,230 shares of company stock worth $91,161,780. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

A number of hedge funds have recently made changes to their positions in DDOG. Anchor Investment Management LLC acquired a new position in shares of Datadog in the 4th quarter valued at $25,000. Riverview Trust Co acquired a new position in shares of Datadog during the 1st quarter valued at $26,000. Raleigh Capital Management Inc. acquired a new position in shares of Datadog during the 4th quarter valued at $29,000. BluePath Capital Management LLC acquired a new position in shares of Datadog during the 3rd quarter valued at $31,000. Finally, Private Trust Co. NA lifted its holdings in shares of Datadog by 743.3% during the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds 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.