BMO Capital Markets Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its target price boosted by BMO Capital Markets from $135.00 to $145.00 in a report issued on Friday morning, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other analysts have also issued reports on DDOG. BTIG Research raised 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. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday. Finally, Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Price Performance

Shares of DDOG stock traded down $5.34 during trading on Friday, hitting $124.45. 5,904,912 shares of the stock traded hands, compared to its average volume of 3,125,492. The firm has a market capitalization of $41.96 billion, a P/E ratio of 276.56, a price-to-earnings-growth ratio of 23.44 and a beta of 1.10. The firm’s fifty day moving average price is $119.67 and its 200-day moving average price is $119.58. Datadog has a 52-week low of $98.80 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, equities research analysts expect that Datadog will post 0.42 earnings per share for the current year.

Insider Activity

In related news, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the 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 transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the transaction, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,291 shares of company stock worth $54,154,859 over the last ninety days. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

A number of large investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft raised its stake in Datadog by 1.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock worth $657,000 after purchasing an additional 77 shares during the period. Pathstone Holdings LLC raised its stake in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares during the period. GAMMA Investing LLC raised its stake in shares of Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after acquiring an additional 92 shares during the period. HB Wealth Management LLC raised its stake in shares of Datadog by 5.2% in the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after acquiring an additional 95 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Datadog by 1.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock valued at $1,096,000 after acquiring an additional 103 shares during the period. 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.