Datadog (NASDAQ:DDOG) Issues Earnings Results

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

In related news, CFO David M. Obstler sold 9,693 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $115.38, for a total value of $1,118,378.34. Following the completion of the transaction, the chief financial officer now directly owns 209,810 shares in the company, valued at $24,207,877.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Datadog news, Director Julie Richardson sold 3,906 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $88.51, for a total transaction of $345,720.06. Following the completion of the sale, the director now owns 3,932 shares of the company’s stock, valued at $348,021.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David M. Obstler sold 9,693 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $115.38, for a total value of $1,118,378.34. Following the sale, the chief financial officer now directly owns 209,810 shares of the company’s stock, valued at approximately $24,207,877.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,650 shares of company stock worth $15,336,520. 15.80% of the stock is currently owned by insiders.

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.

About Datadog

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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.