Datadog, Inc. (NASDAQ:DDOG) Receives $139.88 Consensus PT from Brokerages

Datadog, Inc. (NASDAQ:DDOG) has earned an average rating of “Moderate Buy” from the thirty brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $139.88.

Several analysts recently commented on DDOG shares. Barclays cut their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reduced their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Scotiabank decreased their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Finally, Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Sean Michael Walters sold 2,351 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $293,875.00. Following the completion of the sale, the executive now owns 197,421 shares in the company, valued at $24,677,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently modified their holdings of DDOG. Vanguard Group Inc. increased its holdings in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares during the last quarter. Sands Capital Management LLC increased its stake in Datadog by 3.7% in the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after acquiring an additional 162,108 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after acquiring an additional 331,808 shares during the last quarter. Norges Bank purchased a new stake in shares of Datadog during the 4th quarter worth approximately $384,986,000. Finally, 1832 Asset Management L.P. boosted its position in shares of Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after acquiring an additional 848,000 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of DDOG opened at $115.52 on Tuesday. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm’s 50-day simple moving average is $114.90 and its two-hundred day simple moving average is $119.74. The stock has a market cap of $38.64 billion, a PE ratio of 361.00, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. Equities research analysts predict that Datadog will post 0.41 EPS for the current year.

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.