Datadog (NASDAQ:DDOG) Stock Rating Upgraded by UBS Group

Datadog (NASDAQ:DDOG) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has a $150.00 price target on the stock, up from their prior price target of $125.00. UBS Group’s target price points to a potential upside of 17.08% from the stock’s previous close.

A number of other equities analysts also recently commented on DDOG. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Needham & Company LLC cut their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets cut their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and raised their target price for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Finally, Loop Capital reissued a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.11.

Datadog Stock Up 1.5 %

Shares of DDOG opened at $128.12 on Friday. The firm has a market cap of $42.86 billion, a PE ratio of 400.38, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. The company’s fifty day moving average is $116.58 and its two-hundred day moving average is $119.42. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates 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 last year, the business earned $0.36 EPS. As a group, equities research analysts anticipate that Datadog will post 0.42 earnings per share for the current year.

Insider Activity

In other Datadog news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the transaction, the director now directly owns 451,533 shares of the company’s stock, valued at $57,195,685.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the sale, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 529,928 shares of company stock valued at $63,079,091. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in shares of Datadog by 80.3% during the 3rd quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $62,000 after buying an additional 240 shares in the last quarter. Accurate Wealth Management LLC bought a new stake in shares of Datadog in the 3rd quarter worth approximately $558,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Datadog by 0.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,224 shares of the company’s stock worth $4,053,000 after purchasing an additional 314 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Datadog by 10.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,427 shares of the company’s stock worth $394,000 after purchasing an additional 311 shares in the last quarter. Finally, nVerses Capital LLC raised its holdings in shares of Datadog by 56.9% in the 3rd quarter. nVerses Capital LLC now owns 9,100 shares of the company’s stock worth $1,047,000 after purchasing an additional 3,300 shares in the last quarter. 78.29% of the stock is currently owned by 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.