Brokerages Set Datadog, Inc. (NASDAQ:DDOG) Price Target at $138.21

Datadog, Inc. (NASDAQ:DDOG) has been given an average recommendation of “Moderate Buy” by the thirty-four ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twenty-nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $138.37.

DDOG has been the subject of several recent research reports. Monness Crespi & Hardt restated a “sell” rating and set a $98.00 price target (down previously from $290.00) on shares of Datadog in a research report on Friday, June 14th. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Datadog in a report on Thursday, June 27th. Finally, Barclays reduced their price objective on shares of Datadog from $152.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th.

Insiders Place Their Bets

In other Datadog news, President Amit Agarwal sold 11,387 shares of Datadog stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,246,307.15. Following the transaction, the president now directly owns 282,694 shares in the company, valued at approximately $30,940,858.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the transaction, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $42,294,146.27. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 11,387 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,246,307.15. Following the transaction, the president now owns 282,694 shares in the company, valued at $30,940,858.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 857,606 shares of company stock worth $103,799,779. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently modified their holdings of DDOG. Norges Bank acquired a new stake in shares of Datadog in the 4th quarter valued at $384,986,000. Kodai Capital Management LP acquired a new stake in shares of Datadog in the 1st quarter valued at $116,054,000. 1832 Asset Management L.P. lifted 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 during the last quarter. DNB Asset Management AS lifted its stake in shares of Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Datadog by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after purchasing an additional 734,539 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Down 5.2 %

Datadog stock opened at $107.25 on Monday. The company has a 50-day simple moving average of $120.38 and a 200-day simple moving average of $123.68. The firm has a market capitalization of $35.88 billion, a P/E ratio of 335.16, a P/E/G ratio of 38.34 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. Datadog has a one year low of $77.81 and a one year high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly 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 business had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. As a group, equities analysts expect that Datadog will post 0.32 earnings per share for the current year.

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.