Datadog (NASDAQ:DDOG) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Datadog (NASDAQ:DDOG) in a research report sent to investors on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $165.00 target price on the stock.

A number of other analysts also recently weighed in on the stock. JMP Securities raised shares of Datadog to a hold rating in a report on Wednesday, May 8th. Monness Crespi & Hardt reissued a sell rating and set a $98.00 target price (down from $290.00) on shares of Datadog in a research report on Friday, June 14th. Rosenblatt Securities reaffirmed a buy rating and issued a $146.00 price target on shares of Datadog in a report on Monday, May 6th. Robert W. Baird raised Datadog from a neutral rating to an outperform rating and lifted their price objective for the stock from $130.00 to $140.00 in a report on Wednesday, May 8th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Datadog currently has a consensus rating of Moderate Buy and a consensus target price of $136.04.

Datadog Trading Up 1.0 %

Shares of NASDAQ:DDOG opened at $129.69 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The stock’s 50-day moving average is $119.81 and its 200-day moving average is $123.17. The company has a market cap of $43.38 billion, a P/E ratio of 405.28, a P/E/G ratio of 42.29 and a beta of 1.09. Datadog has a 52-week low of $77.81 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. The firm had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. Equities research analysts predict that Datadog will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $35,426,677.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $125.53, for a total value of $15,955,490.65. Following the completion of the sale, the chief technology officer now directly owns 290,412 shares of the company’s stock, valued at approximately $36,455,418.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 98,690 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 702,037 shares of company stock valued at $82,731,018. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First National Trust Co grew its position in shares of Datadog by 3.3% during the 1st quarter. First National Trust Co now owns 2,447 shares of the company’s stock worth $302,000 after buying an additional 79 shares during the period. Parsons Capital Management Inc. RI boosted its position in shares of Datadog by 1.8% in the 1st quarter. Parsons Capital Management Inc. RI now owns 4,890 shares of the company’s stock worth $604,000 after purchasing an additional 88 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Datadog by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock worth $1,096,000 after purchasing an additional 89 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Datadog by 17.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock valued at $78,000 after purchasing an additional 97 shares during the last quarter. Finally, AM Squared Ltd lifted its stake in Datadog by 25.0% in the fourth quarter. AM Squared Ltd now owns 500 shares of the company’s stock valued at $61,000 after buying an additional 100 shares during the period. 78.29% of the stock is owned by institutional investors.

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.