Datadog (NASDAQ:DDOG) PT Raised to $135.00

Datadog (NASDAQ:DDOG) had its price objective lifted by stock analysts at BMO Capital Markets from $132.00 to $135.00 in a note issued to investors on Friday, Briefing.com reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 8.97% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. DA Davidson upgraded Datadog from a “neutral” rating to a “buy” rating and increased their price target for the company from $115.00 to $140.00 in a research note on Tuesday, October 1st. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and upped their target price for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Evercore ISI started coverage on Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. Finally, UBS Group reaffirmed an “underperform” rating on shares of Datadog in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $142.54.

Datadog Stock Up 2.0 %

NASDAQ:DDOG opened at $123.89 on Friday. The firm has a market capitalization of $41.44 billion, a price-to-earnings ratio of 387.16, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. The stock’s 50 day moving average price is $117.21 and its two-hundred day moving average price is $119.46.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. As a group, analysts anticipate that Datadog will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total value of $290,250.00. Following the transaction, the executive now owns 183,512 shares in the company, valued at $22,939,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CRO Sean Michael Walters sold 2,322 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now owns 183,512 shares in the company, valued at approximately $22,939,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the transaction, the director now owns 451,533 shares in the company, valued at approximately $57,195,685.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 529,928 shares of company stock valued at $63,079,091. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SouthState Corp bought a new stake in Datadog during the 2nd quarter valued at $26,000. Blue Trust Inc. purchased a new stake in Datadog during the 2nd quarter worth about $37,000. Versant Capital Management Inc boosted its stake in Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after purchasing an additional 210 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares in the last quarter. Finally, ORG Partners LLC bought a new stake in shares of Datadog during the second quarter valued at about $43,000. Institutional investors own 78.29% of the company’s stock.

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.