Datadog (NASDAQ:DDOG) Coverage Initiated at BNP Paribas

Investment analysts at BNP Paribas initiated coverage on shares of Datadog (NASDAQ:DDOG) in a research report issued on Tuesday, Briefing.com reports. The brokerage set an “outperform” rating and a $150.00 price target on the stock. BNP Paribas’ target price points to a potential upside of 22.57% from the company’s previous close.

A number of other equities research analysts also recently issued reports on DDOG. Scotiabank lowered their price objective on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 9th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. UBS Group upped their price target on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Loop Capital reiterated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research report on Friday, July 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.19.

Datadog Stock Performance

NASDAQ:DDOG opened at $122.38 on Tuesday. The company has a market cap of $40.94 billion, a price-to-earnings ratio of 382.44, a PEG ratio of 28.94 and a beta of 1.11. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The stock has a fifty day moving average price of $113.52 and a 200-day moving average price of $119.15.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. Datadog’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Research analysts predict that Datadog will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 221,998 shares of company stock valued at $24,116,887. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several large investors have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft grew its stake in Datadog by 1.5% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock valued at $657,000 after purchasing an additional 77 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Datadog by 19.5% in the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after buying an additional 92 shares during the last quarter. HB Wealth Management LLC raised its holdings in Datadog by 5.2% in the second quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after acquiring an additional 95 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Datadog by 1.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock valued at $1,096,000 after acquiring an additional 103 shares during the last quarter. Finally, WR Wealth Planners LLC grew its holdings in Datadog by 31.6% during the 2nd quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock worth $56,000 after acquiring an additional 104 shares in 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.