Datadog (NASDAQ:DDOG) Lifted to “Strong-Buy” at Wedbush

Wedbush upgraded shares of Datadog (NASDAQ:DDOG) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, Marketbeat.com reports.

Other analysts have also issued research reports about the stock. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. UBS Group raised shares of Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the company from $125.00 to $150.00 in a research note on Friday. Needham & Company LLC cut their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Finally, Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.11.

Datadog Trading Up 1.5 %

Shares of DDOG opened at $128.12 on Thursday. The firm’s fifty day simple moving average is $116.58 and its two-hundred day simple moving average is $119.42. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61. The stock has a market capitalization of $42.86 billion, a P/E ratio of 400.38, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last announced its 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 company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, research analysts predict that Datadog will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 529,928 shares of company stock worth $63,079,091. 11.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

A number of hedge funds have recently modified their holdings of the stock. SouthState Corp purchased a new stake in Datadog in the second quarter worth $26,000. Riverview Trust Co bought a new position in shares of Datadog during the 1st quarter worth $26,000. Blue Trust Inc. purchased a new stake in Datadog in the 2nd quarter worth about $37,000. Versant Capital Management Inc raised its stake in Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after acquiring an additional 210 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Company Profile

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.