Rosenblatt Securities Raises Datadog (NASDAQ:DDOG) Price Target to $148.00

Datadog (NASDAQ:DDOG) had its price target lifted by Rosenblatt Securities from $140.00 to $148.00 in a report released on Friday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Scotiabank cut their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday. UBS Group restated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a report on Thursday, August 1st. Finally, Citigroup increased their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Performance

Datadog stock traded down $5.34 during trading on Friday, reaching $124.45. The company had a trading volume of 5,904,912 shares, compared to its average volume of 3,125,492. Datadog has a 12-month low of $98.80 and a 12-month high of $138.61. The stock’s 50 day moving average price is $119.67 and its two-hundred day moving average price is $119.58. The firm has a market capitalization of $41.96 billion, a price-to-earnings ratio of 276.56, a PEG ratio of 23.44 and a beta of 1.10.

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

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog 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 sale, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 444,291 shares of company stock valued at $54,154,859. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Datadog by 597.9% in the first quarter. Empowered Funds LLC now owns 40,732 shares of the company’s stock worth $5,034,000 after acquiring an additional 34,896 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Datadog by 3.4% in the first quarter. Oppenheimer & Co. Inc. now owns 13,031 shares of the company’s stock valued at $1,611,000 after acquiring an additional 434 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of Datadog in the first quarter valued at about $593,000. Forsta AP Fonden increased its position in Datadog by 34.7% during the 1st quarter. Forsta AP Fonden now owns 64,100 shares of the company’s stock worth $7,923,000 after buying an additional 16,500 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Datadog by 2.9% in the 1st quarter. Swiss National Bank now owns 818,000 shares of the company’s stock valued at $101,105,000 after purchasing an additional 23,100 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

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.