Datadog (NASDAQ:DDOG) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Datadog (NASDAQ:DDOG) from an equal weight rating to an overweight rating in a research note published on Tuesday morning, Marketbeat.com reports. Wells Fargo & Company currently has $150.00 price target on the stock, up from their previous price target of $130.00.

A number of other equities research analysts have also recently commented on the company. Mizuho lifted their target price on Datadog from $108.00 to $130.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Barclays lifted their target price on Datadog from $138.00 to $152.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Wolfe Research lifted their target price on Datadog from $140.00 to $150.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. Stifel Nicolaus reiterated a buy rating and set a $152.00 target price on shares of Datadog in a research note on Monday. Finally, BMO Capital Markets reiterated an outperform rating and set a $155.00 target price (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $131.70.

Datadog Stock Performance

NASDAQ DDOG opened at $125.25 on Tuesday. The company has a fifty day simple moving average of $125.21 and a 200 day simple moving average of $116.73. Datadog has a 12-month low of $63.00 and a 12-month high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The company has a market cap of $41.57 billion, a P/E ratio of 1,043.75 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. During the same period last year, the business earned ($0.08) EPS. The business’s revenue was up 25.6% on a year-over-year basis. Sell-side analysts predict that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 759,908 shares of company stock valued at $97,728,997. 14.97% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Datadog by 8.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,511 shares of the company’s stock valued at $7,108,000 after purchasing an additional 4,400 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Datadog in the first quarter valued at approximately $476,000. Whalen Wealth Management Inc. bought a new stake in Datadog in the first quarter valued at approximately $210,000. Newbridge Financial Services Group Inc. lifted its position in Datadog by 10.4% in the first quarter. Newbridge Financial Services Group Inc. now owns 3,555 shares of the company’s stock valued at $439,000 after purchasing an additional 335 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new stake in Datadog in the first quarter valued at approximately $393,000. Hedge funds and other 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.