Datadog (NASDAQ:DDOG) Stock Price Up 3.6% – What’s Next?

Shares of Datadog, Inc. (NASDAQ:DDOG) shot up 3.6% on Thursday . The company traded as high as $130.02 and last traded at $129.71. 2,032,296 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 3,821,328 shares. The stock had previously closed at $125.16.

Analysts Set New Price Targets

DDOG has been the topic of a number of recent analyst reports. UBS Group lifted their price target on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Needham & Company LLC decreased their target price on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. BMO Capital Markets decreased their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.19.

Datadog Price Performance

The stock has a 50 day moving average price of $114.75 and a 200-day moving average price of $119.32. The stock has a market capitalization of $43.77 billion, a P/E ratio of 288.47, a PEG ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. Datadog’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. Research analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at approximately $39,489,660.60. 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 accessible through this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $39,489,660.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,574 shares of company stock worth $41,291,591. Company insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after buying an additional 171,693 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Datadog by 5.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after purchasing an additional 138,700 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Datadog by 19.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after purchasing an additional 172,887 shares in the last quarter. Finally, Kodai Capital Management LP bought a new position in Datadog in the 1st quarter worth about $116,054,000. 78.29% of the stock is owned by 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.