Needham & Company LLC Reaffirms “Buy” Rating for Datadog (NASDAQ:DDOG)

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $160.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 41.38% from the company’s previous close.

DDOG has been the topic of several other research reports. Loop Capital upped their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Jefferies Financial Group lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Finally, TD Cowen restated a “buy” rating and issued a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.70.

Datadog Stock Performance

NASDAQ:DDOG opened at $113.17 on Tuesday. The stock has a market capitalization of $38.45 billion, a P/E ratio of 221.91, a P/E/G ratio of 44.03 and a beta of 1.15. The company’s 50-day simple moving average is $137.83 and its 200-day simple moving average is $131.97. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, research analysts forecast that Datadog will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the transaction, the president now owns 195,667 shares in the company, valued at approximately $28,956,759.33. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 556,674 shares of company stock worth $82,904,025. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Datadog by 8.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,746 shares of the company’s stock valued at $1,352,000 after purchasing an additional 886 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Datadog by 51.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock valued at $69,985,000 after buying an additional 206,696 shares during the period. KG&L Capital Management LLC increased its holdings in shares of Datadog by 22.3% during the 3rd quarter. KG&L Capital Management LLC now owns 3,915 shares of the company’s stock worth $450,000 after buying an additional 715 shares during the last quarter. National Pension Service raised its position in shares of Datadog by 10.2% during the 3rd quarter. National Pension Service now owns 432,450 shares of the company’s stock valued at $49,758,000 after buying an additional 39,881 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of Datadog by 3.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 99,194 shares of the company’s stock valued at $11,413,000 after buying an additional 3,151 shares during the period. 78.29% of the stock is currently 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.