Datadog (NASDAQ:DDOG) Shares Gap Down to $126.97

Datadog, Inc. (NASDAQ:DDOG)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $126.97, but opened at $113.26. Datadog shares last traded at $113.19, with a volume of 5,797,238 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DDOG shares. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Wednesday, April 17th. Wells Fargo & Company upgraded Datadog from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research report on Monday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $152.00 price target on shares of Datadog in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.04.

Datadog Stock Down 11.7 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The firm has a market capitalization of $37.22 billion, a P/E ratio of 943.50 and a beta of 1.14. The stock has a 50 day moving average of $124.94 and a 200-day moving average of $118.97.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $589.65 million for 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%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Research analysts predict that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the transaction, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the completion of the sale, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,851,883.48. The disclosure for this sale can be found here. Insiders sold 626,593 shares of company stock valued at $80,422,044 over the last three months. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new position in shares of Datadog in the 3rd quarter worth about $189,668,000. Quintet Private Bank Europe S.A. bought a new position in Datadog during the third quarter valued at approximately $270,000. Mengis Capital Management Inc. purchased a new position in shares of Datadog during the third quarter worth approximately $409,000. Bank of New York Mellon Corp lifted its holdings in shares of Datadog by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock worth $125,571,000 after acquiring an additional 33,748 shares during the last quarter. Finally, Cercano Management LLC boosted its stake in shares of Datadog by 40.4% in the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock valued at $28,198,000 after purchasing an additional 89,019 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other 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.