Datadog (NASDAQ:DDOG) Given New $150.00 Price Target at DA Davidson

Datadog (NASDAQ:DDOG) had its target price lifted by research analysts at DA Davidson from $140.00 to $150.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 21.21% from the company’s current price.

Several other brokerages have also commented on DDOG. BMO Capital Markets lifted their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday. Scotiabank decreased their price objective on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday. Sanford C. Bernstein lowered their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday. Finally, UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $146.70.

Datadog Trading Down 4.7 %

DDOG stock traded down $6.04 during mid-day trading on Friday, hitting $123.75. 1,560,598 shares of the company were exchanged, compared to its average volume of 3,776,698. The firm has a fifty day simple moving average of $119.21 and a 200 day simple moving average of $119.49. The company has a market capitalization of $41.72 billion, a PE ratio of 274.34, a price-to-earnings-growth ratio of 22.93 and a beta of 1.10. Datadog has a twelve month low of $98.80 and a twelve month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 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 period last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Datadog will post 0.42 earnings per share for the current year.

Insider Activity at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was 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 directly owns 74,421 shares in the company, valued at $8,934,985.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Datadog news, General Counsel Kerry Acocella sold 2,452 shares of the company’s stock in a transaction dated 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 directly owns 74,421 shares of the company’s stock, valued at approximately $8,934,985.26. This represents 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 Shardul Shah sold 7,916 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $57,195,685.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 444,291 shares of company stock worth $54,154,859 over the last quarter. 11.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently modified their holdings of the stock. Heritage Investors Management Corp acquired a new position in shares of Datadog in the 3rd quarter worth $1,157,000. Vanguard Group Inc. increased its stake in Datadog by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Bank of Montreal Can raised its holdings in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Datadog by 23.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after buying an additional 32,217 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in shares of Datadog by 1,648.8% in the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock worth $638,000 after buying an additional 4,864 shares during the period. Institutional investors and hedge funds 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.