Shares of Datadog, Inc. (NASDAQ:DDOG – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-one ratings firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $142.52.
DDOG has been the topic of several recent analyst reports. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the company a “buy” rating in a research note on Thursday, June 12th. Macquarie dropped their price target on shares of Datadog from $175.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. BTIG Research set a $136.00 price target on shares of Datadog and gave the company a “buy” rating in a research note on Tuesday, May 6th. Wolfe Research upgraded shares of Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research note on Thursday, June 12th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Datadog in a report on Tuesday, May 6th.
Check Out Our Latest Research Report on Datadog
Datadog Stock Down 2.0%
Datadog (NASDAQ:DDOG – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, equities research analysts anticipate that Datadog will post 0.34 EPS for the current fiscal year.
Insider Activity at Datadog
In other Datadog news, General Counsel Kerry Acocella sold 5,099 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $595,767.16. Following the completion of the sale, the general counsel now owns 115,490 shares of the company’s stock, valued at approximately $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Jacobson sold 47,306 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the transaction, the director now directly owns 25,468 shares in the company, valued at approximately $2,735,263.20. This trade represents a 65.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 762,966 shares of company stock worth $85,558,325 in the last three months. Insiders own 8.70% of the company’s stock.
Institutional Trading of Datadog
Several hedge funds and other institutional investors have recently made changes to their positions in DDOG. Goldman Sachs Group Inc. grew its holdings in Datadog by 259.7% in the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock valued at $858,994,000 after purchasing an additional 6,250,942 shares during the last quarter. Groupama Asset Managment grew its holdings in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the last quarter. Norges Bank acquired a new stake in Datadog in the fourth quarter valued at $462,910,000. Finally, Brown Advisory Inc. grew its holdings in Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after purchasing an additional 2,654,512 shares during the last quarter. Institutional investors and hedge funds 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.
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