Datadog (NASDAQ:DDOG) Price Target Increased to $135.00 by Analysts at BMO Capital Markets

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

Several other equities analysts also recently issued reports on the company. Needham & Company LLC reduced their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Monday, July 22nd. Loop Capital reissued a “buy” rating and set a $160.00 target price on shares of Datadog in a report on Friday, July 5th. Finally, Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.54.

Datadog Stock Performance

NASDAQ:DDOG opened at $126.60 on Friday. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 395.63, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog has a one year low of $77.81 and a one year high of $138.61. The stock has a 50-day simple moving average of $117.59 and a 200 day simple moving average of $119.41.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.36 earnings per share. On average, equities research analysts forecast that Datadog will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, General Counsel Kerry Acocella sold 2,452 shares of Datadog stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the transaction, the general counsel now directly owns 74,421 shares in the company, valued at approximately $8,934,985.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the completion of the transaction, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 529,928 shares of company stock worth $63,079,091. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its position in Datadog by 9.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,807 shares of the company’s stock worth $1,212,000 after buying an additional 831 shares during the last quarter. OneAscent Financial Services LLC increased its position in Datadog by 63.1% during the first quarter. OneAscent Financial Services LLC now owns 3,517 shares of the company’s stock worth $435,000 after buying an additional 1,361 shares during the last quarter. EDBI Pte Ltd increased its position in Datadog by 23.8% during the first quarter. EDBI Pte Ltd now owns 15,624 shares of the company’s stock worth $1,931,000 after buying an additional 3,000 shares during the last quarter. Diversified Trust Co increased its position in Datadog by 36.4% during the first quarter. Diversified Trust Co now owns 6,007 shares of the company’s stock worth $742,000 after buying an additional 1,602 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in Datadog during the first quarter worth $210,000. 78.29% of the stock is owned by institutional investors and hedge funds.

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.