Datadog (NASDAQ:DDOG) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $155.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company upgraded Datadog from an equal weight rating to an overweight rating and increased their target price for the company from $130.00 to $150.00 in a report on Tuesday, April 23rd. Cantor Fitzgerald restated an overweight rating and set a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. JMP Securities upgraded Datadog to a hold rating in a report on Wednesday, May 8th. Robert W. Baird upgraded Datadog from a neutral rating to an outperform rating and increased their target price for the company from $130.00 to $140.00 in a report on Wednesday, May 8th. Finally, Monness Crespi & Hardt restated a sell rating and set a $98.00 target price (down from $290.00) on shares of Datadog in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Datadog has an average rating of Moderate Buy and a consensus price target of $136.04.

Datadog Price Performance

DDOG opened at $123.19 on Wednesday. The stock has a 50-day moving average price of $119.56 and a 200-day moving average price of $122.96. Datadog has a 12-month low of $77.81 and a 12-month high of $138.61. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $41.21 billion, a P/E ratio of 384.97, a PEG ratio of 39.22 and a beta of 1.09.

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

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $43,858,972.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $43,858,972.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Kerry Acocella sold 5,955 shares of Datadog stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.09, for a total value of $715,135.95. Following the transaction, the general counsel now owns 85,787 shares of the company’s stock, valued at approximately $10,302,160.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,191 shares of company stock worth $82,508,981. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of 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 in the last quarter. Sands Capital Management LLC increased its holdings in shares of Datadog by 3.7% in the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after purchasing an additional 162,108 shares in the last quarter. Norges Bank bought a new stake in shares of Datadog in the 4th quarter worth $384,986,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Datadog by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after acquiring an additional 848,000 shares during the period. 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.