Datadog (NASDAQ:DDOG) Price Target Raised to $145.00

Datadog (NASDAQ:DDOG) had its target price increased by equities research analysts at BMO Capital Markets from $135.00 to $145.00 in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 12.27% from the company’s previous close.

A number of other equities research analysts have also issued reports on DDOG. Scotiabank cut their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $115.00 to $140.00 in a report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 target price on shares of Datadog in a report on Friday, August 9th. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC dropped their price target on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.33.

Datadog Stock Down 0.5 %

NASDAQ DDOG opened at $129.15 on Friday. Datadog has a fifty-two week low of $98.80 and a fifty-two week high of $138.61. The business has a 50 day moving average price of $119.21 and a two-hundred day moving average price of $119.49. The stock has a market cap of $43.54 billion, a PE ratio of 288.43, a P/E/G ratio of 22.93 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 for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. Sell-side analysts anticipate that Datadog will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the transaction, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. 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 link. In related news, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $40,963,061.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares of the company’s stock, 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. In the last 90 days, insiders have sold 444,291 shares of company stock valued at $54,154,859. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Large investors have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft lifted its stake in Datadog by 1.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock valued at $657,000 after purchasing an additional 77 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of Datadog by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after acquiring an additional 91 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Datadog by 19.5% during the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after acquiring an additional 92 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Datadog by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock worth $250,000 after acquiring an additional 95 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Datadog by 1.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock worth $1,096,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

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.