Datadog (NASDAQ:DDOG) Upgraded to “Buy” by DA Davidson

DA Davidson upgraded shares of Datadog (NASDAQ:DDOG) from a neutral rating to a buy rating in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have $140.00 price objective on the stock, up from their previous price objective of $115.00.

DDOG has been the topic of several other reports. Barclays decreased their target price on shares of Datadog from $145.00 to $140.00 and set an overweight rating on the stock in a report on Friday, August 9th. Wedbush reissued an outperform rating and set a $155.00 target price on shares of Datadog in a research note on Friday, August 9th. Evercore ISI initiated coverage on Datadog in a research note on Monday, July 15th. They issued an outperform rating and a $150.00 price target on the stock. BMO Capital Markets cut their price objective on Datadog from $140.00 to $132.00 and set an outperform rating for the company in a research report on Friday, August 9th. Finally, BTIG Research raised shares of Datadog from a neutral rating to a buy rating and set a $143.00 target price on the stock in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog has a consensus rating of Moderate Buy and an average price target of $140.85.

Datadog Price Performance

NASDAQ DDOG opened at $117.53 on Tuesday. The stock’s 50 day simple moving average is $113.43 and its 200-day simple moving average is $119.19. The company has a market cap of $39.31 billion, a PE ratio of 367.28, a price-to-earnings-growth ratio of 28.94 and a beta of 1.11. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $645.28 million for 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 company’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. On average, equities research analysts anticipate that Datadog will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 422,991 shares of company stock worth $50,448,980. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American National Bank & Trust acquired a new stake in shares of Datadog during the third quarter worth $39,000. Cavalry Management Group LLC acquired a new stake in shares of Datadog in the 2nd quarter worth $222,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Datadog by 23.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 4,402 shares of the company’s stock valued at $571,000 after acquiring an additional 847 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Datadog during the second quarter worth about $954,000. Finally, Clearbridge Investments LLC raised its holdings in Datadog by 5.2% during the second quarter. Clearbridge Investments LLC now owns 259,107 shares of the company’s stock worth $33,604,000 after purchasing an additional 12,785 shares in the last quarter. Hedge funds and other 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.