DA Davidson Increases Datadog (NASDAQ:DDOG) Price Target to $125.00

by · The Cerbat Gem

Datadog (NASDAQ:DDOG – Free Report) had its target price upped by DA Davidson from $115.00 to $125.00 in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

DDOG has been the subject of several other reports. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research report on Tuesday, March 4th. Scotiabank reduced their price objective on Datadog from $155.00 to $125.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald started coverage on Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 price target for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $141.54.

View Our Latest Report on Datadog

Datadog Stock Performance

Datadog stock opened at $106.10 on Monday. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm’s 50-day simple moving average is $100.43 and its 200 day simple moving average is $126.04. The stock has a market cap of $36.37 billion, a PE ratio of 208.04, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG – Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. As a group, analysts predict that Datadog will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, Director Amit Agarwal sold 10,167 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the sale, the director now owns 82,324 shares in the company, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the sale, the chief executive officer now directly owns 435,793 shares of the company’s stock, valued at $47,745,481.08. This represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,456 shares of company stock worth $39,018,715 over the last three months. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in Datadog by 40.3% during the fourth quarter. GAMMA Investing LLC now owns 790 shares of the company’s stock valued at $113,000 after acquiring an additional 227 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Datadog by 21.2% during the 4th quarter. Nordea Investment Management AB now owns 58,256 shares of the company’s stock valued at $8,376,000 after purchasing an additional 10,199 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Datadog by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company’s stock worth $1,698,000 after purchasing an additional 137 shares during the period. Green Alpha Advisors LLC raised its position in Datadog by 18.3% in the 4th quarter. Green Alpha Advisors LLC now owns 3,301 shares of the company’s stock worth $472,000 after purchasing an additional 511 shares during the period. Finally, Kieckhefer Group LLC bought a new stake in Datadog in the fourth quarter worth $43,000. 78.29% of the stock is currently owned by 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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