Datadog (NASDAQ:DDOG) had its target price lowered by equities research analysts at Morgan Stanley from $50.00 to $42.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 20.38% from the company’s previous close.
DDOG has been the topic of several other research reports. Barclays reiterated a “buy” rating and set a $42.00 price target on shares of Datadog in a research report on Tuesday, March 17th. Needham & Company LLC increased their price objective on shares of Datadog from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada reiterated a “hold” rating and set a $43.00 price objective on shares of Datadog in a research report on Wednesday, March 18th. Jefferies Financial Group raised their target price on shares of Datadog from $36.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, February 14th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Datadog from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $45.45.
NASDAQ DDOG traded up $1.20 on Thursday, reaching $34.89. The company had a trading volume of 16,233 shares, compared to its average volume of 5,344,397. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.06. The firm has a market cap of $10.25 billion and a price-to-earnings ratio of -233.27. The business has a 50 day moving average price of $42.26. Datadog has a fifty-two week low of $27.55 and a fifty-two week high of $50.12.
Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.05. The company had revenue of $113.64 million for the quarter, compared to the consensus estimate of $102.22 million. On average, equities research analysts forecast that Datadog will post -0.14 EPS for the current year.
In other news, CRO Dan Fougere sold 270,000 shares of Datadog stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $32.11, for a total value of $8,669,700.00. Following the transaction, the executive now directly owns 285,000 shares of the company’s stock, valued at approximately $9,151,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael James Callahan sold 5,000 shares of Datadog stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $48.93, for a total value of $244,650.00. Following the completion of the transaction, the director now directly owns 67,179 shares in the company, valued at $3,287,068.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,094,441 shares of company stock valued at $44,276,323.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ICONIQ Capital LLC purchased a new stake in Datadog during the 3rd quarter worth approximately $1,040,051,000. IA Venture Partners LLC bought a new stake in shares of Datadog in the 4th quarter valued at approximately $154,018,000. Point72 Asset Management L.P. increased its holdings in shares of Datadog by 1,496.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,389,354 shares of the company’s stock valued at $52,490,000 after acquiring an additional 1,302,336 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of Datadog in the 4th quarter valued at approximately $21,886,000. Finally, Kayak Investment Partners LLC grew its stake in Datadog by 63.7% during the 4th quarter. Kayak Investment Partners LLC now owns 371,500 shares of the company’s stock worth $14,035,000 after buying an additional 144,500 shares during the last quarter. 18.33% of the stock is currently owned by institutional investors and hedge funds.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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