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

Wedbush reissued their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $155.00 price objective on the stock.

Several other equities research analysts also recently weighed in on DDOG. Monness Crespi & Hardt reaffirmed a sell rating and issued a $98.00 price target (down from $290.00) on shares of Datadog in a research note on Friday, June 14th. JMP Securities raised Datadog to a hold rating in a research report on Wednesday, May 8th. Stifel Nicolaus reiterated a buy rating and issued a $152.00 price target on shares of Datadog in a report on Monday, April 22nd. Baird R W upgraded Datadog from a hold rating to a strong-buy rating in a report on Wednesday, May 8th. Finally, Robert W. Baird raised Datadog from a neutral rating to an outperform rating and upped their target price for the stock from $130.00 to $140.00 in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of Moderate Buy and an average price target of $136.04.

Datadog Stock Up 1.0 %

Shares of NASDAQ:DDOG opened at $129.69 on Wednesday. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The business’s 50-day moving average is $119.81 and its 200-day moving average is $123.11. The company has a market capitalization of $43.38 billion, a price-to-earnings ratio of 405.28, a P/E/G ratio of 40.56 and a beta of 1.09.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.20. The firm had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. Equities research analysts predict that Datadog will post 0.32 earnings per share for the current year.

Insider Buying and Selling at Datadog

In related news, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Datadog news, insider Madre Armelle De sold 600 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the transaction, the insider now owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Blitzer sold 11,946 shares of Datadog stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the completion of the transaction, the chief operating officer now owns 236,640 shares of the company’s stock, valued at approximately $25,900,248. The disclosure for this sale can be found here. Insiders have sold a total of 702,037 shares of company stock worth $82,731,018 over the last ninety days. 11.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Datadog by 3.7% in the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after acquiring an additional 162,108 shares during the period. Norges Bank purchased a new position in Datadog during the fourth quarter valued at approximately $384,986,000. Massachusetts Financial Services Co. MA grew its stake in Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after acquiring an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after acquiring an additional 848,000 shares during the period. 78.29% of the stock is 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.