Needham & Company LLC Reiterates “Buy” Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $165.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 27.23% from the company’s previous close.

Several other brokerages have also weighed in on DDOG. Barclays cut their price objective on Datadog from $152.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Robert W. Baird upgraded Datadog from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $130.00 to $140.00 in a research report on Wednesday, May 8th. Monness Crespi & Hardt restated a “sell” rating and issued a $98.00 target price (down from $290.00) on shares of Datadog in a report on Friday, June 14th. Wedbush reaffirmed an “outperform” rating and set a $155.00 target price on shares of Datadog in a report on Wednesday. Finally, BMO Capital Markets dropped their price target on Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.04.

Datadog Trading Up 1.0 %

NASDAQ:DDOG opened at $129.69 on Thursday. The stock has a market cap of $43.38 billion, a price-to-earnings ratio of 405.28, a PEG ratio of 40.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The business has a fifty day moving average of $119.81 and a 200-day moving average of $123.11.

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

Insider Buying and Selling

In other Datadog news, General Counsel Kerry Acocella sold 1,846 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $120.28, for a total transaction of $222,036.88. Following the transaction, the general counsel now owns 80,084 shares in the company, valued at $9,632,503.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Datadog news, General Counsel Kerry Acocella sold 1,846 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $120.28, for a total transaction of $222,036.88. Following the completion of the sale, the general counsel now directly owns 80,084 shares in the company, valued at $9,632,503.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 23,924 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares in the company, valued at $43,858,972.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 702,037 shares of company stock worth $82,731,018. 11.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently modified their holdings of DDOG. First National Trust Co raised its stake in Datadog by 3.3% during the 1st quarter. First National Trust Co now owns 2,447 shares of the company’s stock valued at $302,000 after purchasing an additional 79 shares during the last quarter. Parsons Capital Management Inc. RI lifted its stake in shares of Datadog by 1.8% in the first quarter. Parsons Capital Management Inc. RI now owns 4,890 shares of the company’s stock valued at $604,000 after buying an additional 88 shares during the period. Panagora Asset Management Inc. grew its position in Datadog by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock worth $1,096,000 after buying an additional 89 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Datadog by 17.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock valued at $78,000 after acquiring an additional 97 shares during the period. Finally, AM Squared Ltd raised its holdings in Datadog by 25.0% in the 4th quarter. AM Squared Ltd now owns 500 shares of the company’s stock valued at $61,000 after acquiring an additional 100 shares in the last quarter. 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.