Datadog (NASDAQ:DDOG) Price Target Raised to $155.00

Datadog (NASDAQ:DDOG) had its target price lifted by equities research analysts at Barclays from $140.00 to $155.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 24.52% from the company’s current price.

A number of other brokerages have also recently weighed in on DDOG. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday. BMO Capital Markets raised their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen boosted their target price on Datadog from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC lowered their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $135.00 to $155.00 in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.14.

Datadog Stock Performance

DDOG traded down $5.31 during midday trading on Friday, reaching $124.48. 3,366,416 shares of the company were exchanged, compared to its average volume of 3,785,020. The stock has a market capitalization of $41.97 billion, a P/E ratio of 276.63, a PEG ratio of 22.93 and a beta of 1.10. Datadog has a one year low of $98.80 and a one year high of $138.61. The stock’s 50-day simple moving average is $119.21 and its 200 day simple moving average is $119.49.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. Datadog’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. On average, research analysts anticipate that Datadog will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the transaction, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 444,291 shares of company stock valued at $54,154,859. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SouthState Corp acquired a new stake in Datadog during the second quarter worth approximately $26,000. Meeder Asset Management Inc. increased its stake in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. acquired a new stake in Datadog during the 2nd quarter worth approximately $37,000. EverSource Wealth Advisors LLC boosted its stake in Datadog by 70.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares during the period. Finally, American National Bank & Trust bought a new stake in Datadog in the 3rd quarter valued at $39,000. Institutional investors 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.