Datadog’s (DDOG) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Datadog (NASDAQ:DDOG) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $165.00 price objective on the stock.

Several other equities research analysts have also commented on DDOG. Mizuho upped their price objective on Datadog from $108.00 to $130.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. BMO Capital Markets restated an outperform rating and issued a $155.00 price objective (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Rosenblatt Securities restated a buy rating and issued a $146.00 price objective on shares of Datadog in a research note on Monday. Royal Bank of Canada upped their price objective on Datadog from $145.00 to $151.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Finally, Barclays upped their target price on shares of Datadog from $138.00 to $152.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $136.04.

Datadog Price Performance

Shares of DDOG opened at $112.40 on Tuesday. The firm has a market cap of $37.30 billion, a PE ratio of 936.67 and a beta of 1.14. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $124.57 and a two-hundred day simple moving average of $119.16. Datadog has a 1-year low of $75.02 and a 1-year high of $138.61.

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

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated 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 transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at approximately $33,414,012.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Olivier Pomel sold 23,924 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 626,593 shares of company stock valued at $80,422,044. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in Datadog in the 1st quarter worth about $26,000. Anchor Investment Management LLC purchased a new position in shares of Datadog during the fourth quarter worth approximately $25,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog during the fourth quarter worth approximately $29,000. Private Trust Co. NA increased its position in shares of Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in shares of Datadog during the fourth quarter worth approximately $33,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.