Datadog (NASDAQ:DDOG) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Datadog (NASDAQ:DDOG) in a research note released on Tuesday,Benzinga reports. Needham & Company LLC currently has a $160.00 price objective on the stock.

Several other research firms have also weighed in on DDOG. Rosenblatt Securities boosted their price target on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price target on the stock. Royal Bank of Canada boosted their price target on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, TD Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Stock Up 2.0 %

Datadog stock opened at $115.46 on Tuesday. The business’s 50-day simple moving average is $137.17 and its 200 day simple moving average is $131.97. The stock has a market cap of $39.22 billion, a price-to-earnings ratio of 226.40, a P/E/G ratio of 44.03 and a beta of 1.15. Datadog has a 12-month low of $98.80 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, sell-side analysts expect that Datadog will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total value of $3,486,750.00. Following the completion of the sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. This represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 554,186 shares of company stock valued at $82,510,821 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in DDOG. Groupama Asset Managment boosted its holdings in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after acquiring an additional 3,993,707 shares in the last quarter. Norges Bank bought a new position in Datadog in the fourth quarter worth approximately $462,910,000. Jennison Associates LLC boosted its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after acquiring an additional 3,005,300 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after acquiring an additional 2,654,512 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

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.