Datadog (NASDAQ:DDOG) Price Target Cut to $140.00 by Analysts at BMO Capital Markets

Datadog (NASDAQ:DDOG) had its price objective dropped by analysts at BMO Capital Markets from $155.00 to $140.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 19.53% from the stock’s previous close.

A number of other brokerages have also issued reports on DDOG. Stifel Nicolaus restated a “buy” rating and issued a $152.00 target price on shares of Datadog in a research note on Monday, April 22nd. Truist Financial lifted their target price on Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Canaccord Genuity Group reissued a “buy” rating and set a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. Royal Bank of Canada upped their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Finally, Mizuho raised their target price on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.85.

Datadog Stock Up 4.2 %

NASDAQ DDOG traded up $4.73 on Wednesday, hitting $117.13. The stock had a trading volume of 3,875,058 shares, compared to its average volume of 4,235,717. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The stock has a market cap of $38.87 billion, a price-to-earnings ratio of 969.50 and a beta of 1.14. Datadog has a 52-week low of $77.81 and a 52-week high of $138.61. The business’s fifty day moving average price is $124.57 and its 200 day moving average price is $119.16.

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

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the sale, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the sale, the executive now owns 182,593 shares of the company’s stock, valued at $23,477,807.94. The disclosure for this sale can be found here. Insiders sold 626,593 shares of company stock valued at $80,422,044 in the last three months. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Hedge funds have recently bought and sold shares of the company. Riverview Trust Co acquired a new stake in shares of Datadog during the first quarter worth about $26,000. Anchor Investment Management LLC purchased a new position in Datadog in the 4th quarter valued at approximately $25,000. Raleigh Capital Management Inc. acquired a new position in shares of Datadog in the fourth quarter worth $29,000. Private Trust Co. NA increased its position in shares of Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Datadog in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Company Profile

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.