Datadog (NASDAQ:DDOG) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Thursday morning, Benzinga reports. They currently have a $165.00 target price on the stock.

Several other research firms have also recently commented on DDOG. Cantor Fitzgerald reaffirmed an overweight rating and issued a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Rosenblatt Securities reaffirmed a buy rating and issued a $146.00 target price on shares of Datadog in a research note on Monday, May 6th. JMP Securities raised shares of Datadog to a hold rating in a research note on Wednesday, May 8th. Stifel Nicolaus reaffirmed a buy rating and issued a $152.00 target price on shares of Datadog in a research note on Monday, April 22nd. Finally, Monness Crespi & Hardt reissued a sell rating and set a $98.00 price objective (down from $290.00) on shares of Datadog in a research note 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 given a strong buy rating to the company. According to MarketBeat, Datadog currently has a consensus rating of Moderate Buy and a consensus target price of $136.04.

Datadog Trading Up 4.3 %

Shares of Datadog stock opened at $128.45 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The company has a market capitalization of $42.97 billion, a P/E ratio of 401.34, a P/E/G ratio of 39.22 and a beta of 1.09. The business has a 50 day moving average price of $119.55 and a 200 day moving average price of $122.97.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. The firm had revenue of $611.25 million during the quarter, compared to analysts’ expectations of $589.97 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. Sell-side analysts anticipate that Datadog will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the transaction, the chief executive officer now owns 337,247 shares in the company, valued at approximately $43,858,972.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Datadog news, CFO David M. Obstler sold 15,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total value of $1,954,200.00. Following the transaction, the chief financial officer now owns 275,191 shares in the company, valued at approximately $35,851,883.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the sale, the chief executive officer now owns 337,247 shares in the company, valued at approximately $43,858,972.35. The disclosure for this sale can be found here. Insiders have sold 702,037 shares of company stock worth $82,731,018 in the last quarter. 11.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 valued at $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Sands Capital Management LLC raised its stake 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 valued at $554,073,000 after purchasing an additional 162,108 shares in the last quarter. Norges Bank acquired a new stake in shares of Datadog in the 4th quarter valued at about $384,986,000. Massachusetts Financial Services Co. MA raised its stake 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 valued at $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Datadog by 47.9% in the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares in the last quarter. Institutional investors and hedge funds 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.