Datadog (NASDAQ:DDOG – Get Rating) posted its quarterly earnings results on Thursday. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10, Briefing.com reports. The company had revenue of $406.14 million during the quarter, compared to the consensus estimate of $381.28 million. Datadog had a net margin of 0.17% and a return on equity of 1.53%. The company’s revenue for the quarter was up 73.9% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS.
Datadog Trading Up 2.5 %
Datadog stock traded up $2.80 during trading on Friday, hitting $113.29. The company’s stock had a trading volume of 6,367,667 shares, compared to its average volume of 5,113,981. The stock has a market capitalization of $35.69 billion, a price-to-earnings ratio of -11,329,000.00 and a beta of 1.15. The stock’s fifty day moving average is $98.82 and its 200 day moving average is $121.67. Datadog has a 1-year low of $81.12 and a 1-year high of $199.68. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.33 and a current ratio of 3.33.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on DDOG. Barclays reduced their price objective on Datadog from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Friday. Raymond James decreased their target price on Datadog from $170.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday. KeyCorp decreased their target price on Datadog from $132.00 to $127.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial decreased their target price on Datadog from $200.00 to $170.00 in a research report on Friday, May 6th. Finally, Canaccord Genuity Group began coverage on Datadog in a research report on Thursday, July 7th. They set a “hold” rating and a $120.00 target price on the stock. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.20.
Insider Activity at Datadog
Institutional Investors Weigh In On Datadog
Institutional investors have recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. grew its position in Datadog by 16.2% during the first quarter. Wetherby Asset Management Inc. now owns 1,464 shares of the company’s stock valued at $222,000 after acquiring an additional 204 shares during the period. Captrust Financial Advisors grew its position in Datadog by 71.7% during the first quarter. Captrust Financial Advisors now owns 1,921 shares of the company’s stock valued at $291,000 after acquiring an additional 802 shares during the period. XTX Topco Ltd purchased a new stake in shares of Datadog in the first quarter worth about $302,000. AJ Wealth Strategies LLC purchased a new stake in shares of Datadog in the first quarter worth about $304,000. Finally, Fund Management at Engine No. 1 LLC purchased a new stake in shares of Datadog in the first quarter worth about $330,000. Hedge funds and other institutional investors own 65.17% of the company’s stock.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.
- Get a free copy of the StockNews.com research report on Datadog (DDOG)
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