Datadog, Inc. (NASDAQ:DDOG) Receives $139.88 Consensus Target Price from Analysts

Datadog, Inc. (NASDAQ:DDOG) has been assigned an average recommendation of “Moderate Buy” from the thirty analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $139.88.

A number of research firms have weighed in on DDOG. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. 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 report on Friday, August 9th. Loop Capital restated a “buy” rating and set a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Finally, UBS Group raised their price target on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th.

Datadog Trading Up 2.1 %

DDOG opened at $115.52 on Tuesday. The stock has a 50-day moving average of $114.90 and a 200 day moving average of $119.74. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61. The firm has a market cap of $38.64 billion, a P/E ratio of 361.00, a P/E/G ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 26.7% on a year-over-year basis. On average, research analysts forecast that Datadog will post 0.41 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, General Counsel Kerry Acocella sold 5,955 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 85,787 shares in the company, valued at $10,302,160.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Kerry Acocella sold 5,955 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.09, for a total transaction of $715,135.95. Following the completion of the sale, the general counsel now owns 85,787 shares in the company, valued at approximately $10,302,160.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 2,351 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $293,875.00. Following the transaction, the executive now owns 197,421 shares in the company, valued at $24,677,625. The disclosure for this sale can be found here. In the last three months, insiders have sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently modified their holdings of DDOG. Dimensional Fund Advisors LP increased its stake in Datadog by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock valued at $30,842,000 after purchasing an additional 28,394 shares in the last quarter. Avantax Advisory Services Inc. increased its position in shares of Datadog by 32.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 4,729 shares of the company’s stock valued at $574,000 after acquiring an additional 1,162 shares during the period. Janney Montgomery Scott LLC raised its stake in Datadog by 373.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 11,172 shares of the company’s stock worth $1,356,000 after acquiring an additional 8,812 shares during the last quarter. Beacon Pointe Advisors LLC lifted its position in Datadog by 29.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 4,877 shares of the company’s stock worth $592,000 after acquiring an additional 1,113 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in Datadog by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock valued at $1,096,000 after purchasing an additional 89 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.