Datadog (NASDAQ:DDOG) Upgraded by UBS Group to “Buy”

UBS Group upgraded shares of Datadog (NASDAQ:DDOG) from a neutral rating to a buy rating in a report published on Friday morning, Marketbeat reports. The firm currently has $150.00 target price on the stock, up from their prior target price of $125.00.

Other equities research analysts also recently issued research reports about the company. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research report on Thursday, August 1st. BMO Capital Markets reduced their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Evercore ISI assumed coverage on Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. Finally, Barclays dropped their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $142.11.

Datadog Price Performance

Datadog stock opened at $128.12 on Friday. The firm has a 50-day moving average of $116.58 and a two-hundred day moving average of $119.45. The stock has a market cap of $42.86 billion, a price-to-earnings ratio of 400.38, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last issued its earnings results 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 company had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. Research analysts expect that Datadog will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total transaction of $294,387.12. Following the sale, the general counsel now directly owns 74,421 shares of the company’s stock, valued at $8,934,985.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Kerry Acocella sold 2,452 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the completion of the sale, the general counsel now owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 529,928 shares of company stock valued at $63,079,091. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several large investors have recently bought and sold shares of DDOG. SouthState Corp acquired a new stake in shares of Datadog in the second quarter worth approximately $26,000. Riverview Trust Co acquired a new stake in Datadog during the 1st quarter worth $26,000. Blue Trust Inc. purchased a new stake in shares of Datadog during the second quarter worth $37,000. Versant Capital Management Inc raised its position in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after buying an additional 210 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.