Datadog, Inc. (NASDAQ:DDOG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Datadog, Inc. (NASDAQ:DDOG) have been assigned an average recommendation of “Moderate Buy” from the thirty-one research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twenty-six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $142.54.

A number of brokerages recently issued reports on DDOG. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Barclays lowered their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Evercore ISI assumed coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 target price for the company. BMO Capital Markets upped their price target on shares of Datadog from $132.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the completion of the transaction, the chief executive officer now owns 392,111 shares in the company, valued at approximately $48,076,729.71. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the completion of the transaction, the chief executive officer now directly owns 392,111 shares of the company’s stock, valued at $48,076,729.71. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the transaction, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 444,291 shares of company stock valued at $54,154,859 in the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DDOG. SouthState Corp bought a new position in Datadog in the second quarter worth about $26,000. Blue Trust Inc. acquired a new position in Datadog during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC raised its stake in Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after buying an additional 127 shares during the last quarter. American National Bank & Trust acquired a new stake in Datadog in the 3rd quarter worth approximately $39,000. Finally, Versant Capital Management Inc grew its stake in Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after purchasing an additional 210 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Datadog Trading Down 0.4 %

Shares of NASDAQ DDOG opened at $125.05 on Wednesday. The firm has a fifty day simple moving average of $118.91 and a two-hundred day simple moving average of $119.43. Datadog has a 12 month low of $79.07 and a 12 month high of $138.61. The firm has a market capitalization of $42.16 billion, a PE ratio of 277.90, a price-to-earnings-growth ratio of 22.51 and a beta of 1.10.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, sell-side analysts predict that Datadog will post 0.42 earnings per share for the current year.

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.