Datadog (NASDAQ:DDOG) Price Target Raised to $125.00 at DA Davidson

Datadog (NASDAQ:DDOG) had its target price lifted by equities research analysts at DA Davidson from $115.00 to $125.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 17.86% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Truist Financial decreased their target price on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Macquarie reissued an “outperform” rating and set a $200.00 price objective on shares of Datadog in a research note on Tuesday, February 11th. Barclays decreased their target price on shares of Datadog from $180.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, Scotiabank decreased their price objective on shares of Datadog from $155.00 to $125.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.44.

Datadog Stock Performance

Datadog stock opened at $106.06 on Monday. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm’s fifty day moving average price is $100.64 and its 200-day moving average price is $126.18. The stock has a market cap of $36.35 billion, a P/E ratio of 207.96, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, analysts predict that Datadog will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the sale, the chief executive officer now directly owns 563,598 shares of the company’s stock, valued at approximately $49,219,013.34. The trade was a 16.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the transaction, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 385,456 shares of company stock valued at $39,018,715 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors have recently bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog during the fourth quarter valued at approximately $30,000. Putney Financial Group LLC bought a new stake in shares of Datadog in the 4th quarter worth $32,000. Avior Wealth Management LLC raised its stake in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the last quarter. Elequin Capital LP bought a new position in shares of Datadog during the fourth quarter valued at $34,000. Finally, Coppell Advisory Solutions LLC boosted its position in shares of Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after buying an additional 177 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other 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.