Brokerages Set Datadog, Inc. (NASDAQ:DDOG) Target Price at $139.88

Shares of Datadog, Inc. (NASDAQ:DDOG) have been assigned a consensus recommendation of “Moderate Buy” from the thirty ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $139.88.

DDOG has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 target price on shares of Datadog in a report on Friday, August 9th. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $155.00 in a research report on Thursday, May 30th. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Scotiabank decreased their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Sean Michael Walters sold 2,351 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $293,875.00. Following the completion of the sale, the executive now owns 197,421 shares of the company’s stock, valued at approximately $24,677,625. The disclosure for this sale can be found here. Insiders have sold a total of 561,997 shares of company stock valued at $68,517,631 over the last quarter. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SouthState Corp purchased a new stake in shares of Datadog in the second quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in Datadog in the first quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Datadog during the 4th quarter worth $29,000. Jones Financial Companies Lllp acquired a new position in shares of Datadog during the 4th quarter worth $33,000. Finally, Quest Partners LLC purchased a new position in shares of Datadog in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $114.76 on Tuesday. The firm has a market capitalization of $38.39 billion, a PE ratio of 358.63, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The firm’s 50-day moving average is $114.64 and its two-hundred day moving average is $119.60.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same period in the prior year, the business earned $0.36 EPS. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. Analysts expect that Datadog will post 0.41 EPS for the current fiscal year.

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.