Datadog (NASDAQ:DDOG) Upgraded at DA Davidson

Datadog (NASDAQ:DDOG) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has a $140.00 price target on the stock, up from their previous price target of $115.00. DA Davidson’s price target would suggest a potential upside of 20.46% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Scotiabank decreased their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Barclays decreased their price target on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC reduced their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Evercore ISI assumed coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.85.

Datadog Stock Up 2.0 %

DDOG opened at $116.22 on Tuesday. The company has a market cap of $38.88 billion, a price-to-earnings ratio of 363.19, a PEG ratio of 28.94 and a beta of 1.11. Datadog has a 52-week low of $77.81 and a 52-week high of $138.61. The firm’s fifty day simple moving average is $113.49 and its two-hundred day simple moving average is $119.20.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business 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 was up 26.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. On average, research analysts forecast that Datadog will post 0.42 EPS for the current year.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. 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.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SouthState Corp purchased a new position in Datadog in the second quarter worth approximately $26,000. Riverview Trust Co purchased a new position in Datadog in the first quarter worth approximately $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog in the fourth quarter worth approximately $29,000. Jones Financial Companies Lllp purchased a new position in Datadog in the fourth quarter worth approximately $33,000. Finally, Blue Trust Inc. purchased a new position in Datadog in the second quarter worth approximately $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.