JMP Securities Reiterates “Market Perform” Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “market perform” rating reaffirmed by equities researchers at JMP Securities in a report released on Friday,Benzinga reports.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group boosted their price target on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $152.00 to $140.00 in a research report on Thursday. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.39.

Datadog Price Performance

NASDAQ DDOG opened at $131.01 on Friday. The firm has a market capitalization of $44.51 billion, a P/E ratio of 247.19, a P/E/G ratio of 16.83 and a beta of 1.15. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08. The business’s 50-day simple moving average is $145.10 and its 200-day simple moving average is $131.02.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 7.58% and a return on equity of 9.41%. On average, equities research analysts expect that Datadog will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on 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 owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 627,586 shares of company stock valued at $92,540,479 in the last quarter. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in Datadog by 22.0% in the 3rd quarter. Inspire Investing LLC now owns 2,484 shares of the company’s stock worth $286,000 after purchasing an additional 448 shares in the last quarter. Creative Planning grew its position in Datadog by 17.6% during the 3rd quarter. Creative Planning now owns 17,141 shares of the company’s stock valued at $1,972,000 after purchasing an additional 2,563 shares during the last quarter. Swedbank AB boosted its holdings in shares of Datadog by 3.2% during the 3rd quarter. Swedbank AB now owns 110,712 shares of the company’s stock valued at $12,739,000 after acquiring an additional 3,483 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Datadog by 10.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,427 shares of the company’s stock valued at $394,000 after acquiring an additional 311 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake 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 during the period. 78.29% of the stock is currently owned by 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.