Datadog (NASDAQ:DDOG) Receives “Buy” Rating from Loop Capital

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating restated by Loop Capital in a note issued to investors on Friday, Benzinga reports. They presently have a $160.00 target price on the stock. Loop Capital’s price objective indicates a potential upside of 21.67% from the company’s previous close.

Several other research firms have also commented on DDOG. Wedbush reaffirmed an “outperform” rating and set a $155.00 price target on shares of Datadog in a research report on Wednesday, June 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Wednesday, April 17th. Stifel Nicolaus reiterated a “buy” rating and set a $152.00 price objective on shares of Datadog in a research note on Monday, April 22nd. JMP Securities upgraded Datadog to a “hold” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company upgraded Datadog from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $150.00 in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.89.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $131.50 on Friday. Datadog has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm has a market cap of $43.99 billion, a price-to-earnings ratio of 410.94, a price-to-earnings-growth ratio of 43.30 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The business has a 50-day simple moving average of $120.30 and a two-hundred day simple moving average of $123.46.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. On average, analysts expect that Datadog will post 0.32 earnings per share for the current year.

Insider Transactions at Datadog

In related news, insider Madre Armelle De sold 300 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the sale, the insider now owns 100,053 shares in the company, valued at approximately $11,343,008.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Madre Armelle De sold 300 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the sale, the insider now owns 100,053 shares in the company, valued at approximately $11,343,008.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Adam Blitzer sold 11,946 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,307,489.70. Following the sale, the chief operating officer now owns 236,640 shares in the company, valued at approximately $25,900,248. The disclosure for this sale can be found here. Insiders have sold 833,242 shares of company stock valued at $99,862,497 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Datadog during the 4th quarter worth $384,986,000. Vanguard Group Inc. boosted its position in Datadog by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after purchasing an additional 1,191,742 shares in the last quarter. Kodai Capital Management LP bought a new stake in Datadog during the first quarter valued at about $116,054,000. 1832 Asset Management L.P. boosted its position in Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.