Datadog (NASDAQ:DDOG) Raised to Overweight at Wells Fargo & Company

Datadog (NASDAQ:DDOG) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has a $150.00 target price on the stock, up from their prior target price of $130.00. Wells Fargo & Company‘s target price would indicate a potential upside of 22.88% from the stock’s previous close.

Several other research firms have also recently weighed in on DDOG. Stifel Nicolaus reaffirmed a “buy” rating and set a $152.00 price objective on shares of Datadog in a research report on Monday. Needham & Company LLC lifted their price target on shares of Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Barclays increased their price objective on shares of Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada lifted their target price on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Robert W. Baird boosted their price target on Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.70.

Datadog Trading Up 1.6 %

Shares of NASDAQ DDOG opened at $122.07 on Tuesday. The company’s 50 day simple moving average is $125.63 and its 200 day simple moving average is $116.37. The firm has a market capitalization of $40.51 billion, a P/E ratio of 1,017.25 and a beta of 1.16. Datadog has a fifty-two week low of $62.60 and a fifty-two week high of $138.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, analysts predict that Datadog will post -0.14 EPS for the current year.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,879,750. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction that occurred on 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 directly owns 182,593 shares of the company’s stock, valued at approximately $23,477,807.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,879,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 745,984 shares of company stock valued at $95,917,681. 14.97% of the stock is owned by company insiders.

Institutional Trading of Datadog

A number of hedge funds have recently made changes to their positions in DDOG. Norges Bank acquired a new position in shares of Datadog in the fourth quarter valued at approximately $384,986,000. Massachusetts Financial Services Co. MA bought a new position in shares of Datadog during the third quarter valued at $189,668,000. Alkeon Capital Management LLC acquired a new position in shares of Datadog during the third quarter worth $127,526,000. Vanguard Group Inc. grew its stake in shares of Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after purchasing an additional 1,191,742 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.