Datadog (NASDAQ:DDOG) Stock Rating Upgraded by Robert W. Baird

Datadog (NASDAQ:DDOG) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm currently has a $140.00 price objective on the stock, up from their prior price objective of $130.00. Robert W. Baird’s target price indicates a potential upside of 20.83% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. William Blair restated an “outperform” rating on shares of Datadog in a research report on Friday, February 16th. Royal Bank of Canada lifted their target price on Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $150.00 target price on shares of Datadog in a research report on Friday, February 23rd. Wolfe Research increased their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $150.00 in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.58.

Datadog Trading Down 1.2 %

Shares of Datadog stock opened at $115.87 on Wednesday. The business has a fifty day simple moving average of $124.30 and a 200-day simple moving average of $119.14. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm has a market cap of $38.45 billion, a price-to-earnings ratio of 965.58 and a beta of 1.14. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. During the same period in the previous year, the business earned ($0.08) earnings per share. Datadog’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities analysts forecast that Datadog will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares in the company, valued at $33,414,012.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Madre Armelle De sold 300 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total transaction of $34,011.00. Following the transaction, the insider now owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The disclosure for this sale can be found here. Insiders have sold a total of 712,530 shares of company stock worth $91,195,791 over the last 90 days. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. First National Trust Co increased its stake in Datadog by 3.3% during the first quarter. First National Trust Co now owns 2,447 shares of the company’s stock valued at $302,000 after acquiring an additional 79 shares during the period. Parsons Capital Management Inc. RI grew its holdings in shares of Datadog by 1.8% during the 1st quarter. Parsons Capital Management Inc. RI now owns 4,890 shares of the company’s stock worth $604,000 after purchasing an additional 88 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Datadog by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock valued at $1,096,000 after purchasing an additional 89 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Datadog by 17.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock valued at $78,000 after purchasing an additional 97 shares in the last quarter. Finally, AM Squared Ltd lifted its position in Datadog by 25.0% in the fourth quarter. AM Squared Ltd now owns 500 shares of the company’s stock worth $61,000 after purchasing an additional 100 shares during the period. 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.