BMO Capital Markets Boosts Datadog (NASDAQ:DDOG) Price Target to $135.00

Datadog (NASDAQ:DDOG) had its price objective boosted by BMO Capital Markets from $132.00 to $135.00 in a research note published on Friday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the stock.

DDOG has been the subject of several other reports. Evercore ISI started coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. Needham & Company LLC cut their target price on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.54.

Datadog Stock Performance

NASDAQ:DDOG opened at $126.60 on Friday. The stock has a 50-day simple moving average of $117.59 and a 200-day simple moving average of $119.41. The stock has a market cap of $42.35 billion, a P/E ratio of 395.63, a P/E/G ratio of 22.85 and a beta of 1.11. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million during 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 was up 26.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities research analysts predict that Datadog will post 0.42 EPS for the current year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the sale, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total value of $4,189,958.10. Following the transaction, the chief financial officer now directly owns 314,158 shares of the company’s stock, valued at approximately $39,489,660.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 529,928 shares of company stock worth $63,079,091 over the last quarter. 11.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after purchasing an additional 171,693 shares during the period. Massachusetts Financial Services Co. MA raised its position in Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares during the period. 1832 Asset Management L.P. raised its position in Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after purchasing an additional 138,700 shares during the period. Allspring Global Investments Holdings LLC raised its position in Datadog by 19.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after purchasing an additional 172,887 shares during the period. Finally, Kodai Capital Management LP purchased a new position in Datadog in the first quarter valued at about $116,054,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.