Datadog (NASDAQ:DDOG) Upgraded at DA Davidson

by · The Cerbat Gem

DA Davidson upgraded shares of Datadog (NASDAQ:DDOG – Free Report) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat.com reports. They currently have $140.00 price objective on the stock, up from their prior price objective of $115.00.

A number of other equities research analysts have also weighed in on DDOG. BTIG Research upgraded Datadog from a neutral rating to a buy rating and set a $143.00 price objective on the stock in a research report on Thursday, August 1st. BMO Capital Markets reduced their price objective on shares of Datadog from $140.00 to $132.00 and set an outperform rating on the stock in a research note on Friday, August 9th. Wedbush restated an outperform rating and set a $155.00 price objective on shares of Datadog in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. Finally, Barclays decreased their target price on shares of Datadog from $145.00 to $140.00 and set an overweight rating for the company in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Datadog currently has a consensus rating of Moderate Buy and an average price target of $140.85.

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Datadog Price Performance

Shares of NASDAQ DDOG opened at $122.69 on Tuesday. The business has a fifty day moving average price of $113.52 and a two-hundred day moving average price of $119.20. The stock has a market capitalization of $41.04 billion, a PE ratio of 383.41, a P/E/G ratio of 28.94 and a beta of 1.11. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61.

Datadog (NASDAQ:DDOG – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. On average, equities analysts expect that Datadog will post 0.42 EPS for the current year.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the transaction, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,991 shares of company stock worth $50,448,980 in the last quarter. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DDOG. Congress Asset Management Co. MA bought a new position in shares of Datadog in the first quarter worth $1,083,000. Vanguard Group Inc. boosted its stake in Datadog by 0.6% in 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 during the period. Jones Financial Companies Lllp bought a new position in Datadog in the 4th quarter worth about $33,000. Los Angeles Capital Management LLC grew its holdings in Datadog by 9.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock valued at $32,732,000 after buying an additional 22,544 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

About Datadog

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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.

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