Datadog, Inc. (NASDAQ:DDOG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Datadog, Inc. (NASDAQ:DDOG) have earned a consensus rating of “Moderate Buy” from the thirty-one analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $158.70.

Several brokerages recently issued reports on DDOG. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Citigroup dropped their target price on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Rosenblatt Securities increased their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $153.73, for a total value of $2,955,612.98. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $58,370,204.89. This trade represents a 4.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 645,638 shares of company stock valued at $82,099,946 over the last three months. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently bought and sold shares of DDOG. Groupama Asset Managment grew its stake in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC grew its stake in Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock valued at $573,923,000 after acquiring an additional 3,993,707 shares in the last quarter. Norges Bank purchased a new position in Datadog during the 4th quarter valued at about $462,910,000. Jennison Associates LLC grew its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after acquiring an additional 2,654,512 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $103.97 on Tuesday. The business’s fifty day moving average price is $129.97 and its 200 day moving average price is $131.27. Datadog has a 12-month low of $98.30 and a 12-month high of $170.08. The stock has a market capitalization of $35.64 billion, a PE ratio of 203.87, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts anticipate that Datadog will post 0.34 earnings per share for the current fiscal year.

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.