Datadog, Inc. (NASDAQ:DDOG) Receives $141.19 Consensus Price Target from Brokerages

Shares of Datadog, Inc. (NASDAQ:DDOG) have earned a consensus recommendation of “Moderate Buy” from the thirty-one research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $142.11.

A number of brokerages have issued reports on DDOG. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Barclays lowered their price target on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Needham & Company LLC cut their price target 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, Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th.

Insiders Place Their Bets

In other news, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at $40,963,061.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 transaction of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the sale, the chief financial officer now owns 314,158 shares in the company, valued at approximately $40,963,061.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 529,928 shares of company stock worth $63,079,091. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Congress Asset Management Co. MA purchased a new position in shares of Datadog in the first quarter valued at $1,083,000. Vanguard Group Inc. raised its position in Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after acquiring an additional 171,693 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Datadog by 9.3% during the first quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock worth $32,732,000 after acquiring an additional 22,544 shares during the last quarter. Bank of Montreal Can grew its position in shares of Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the last quarter. Finally, Plato Investment Management Ltd increased its stake in shares of Datadog by 1,648.8% during the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock worth $638,000 after purchasing an additional 4,864 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Trading Up 1.5 %

Shares of NASDAQ DDOG opened at $128.12 on Friday. The stock has a market cap of $42.86 billion, a P/E ratio of 400.38, a PEG ratio of 22.85 and a beta of 1.11. The business’s fifty day simple moving average is $116.58 and its 200-day simple moving average is $119.45. Datadog has a 12-month low of $77.81 and a 12-month high of $138.61.

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