Datadog (NASDAQ:DDOG) Given New $145.00 Price Target at Barclays

Datadog (NASDAQ:DDOG) had its target price lowered by investment analysts at Barclays from $152.00 to $145.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 23.97% from the company’s previous close.

Other research analysts have also issued research reports about the company. Robert W. Baird raised Datadog from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $140.00 in a report on Wednesday. BMO Capital Markets reduced their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $150.00 target price on shares of Datadog in a research note on Friday, February 23rd. Rosenblatt Securities restated a “buy” rating and set a $146.00 price target on shares of Datadog in a research report on Monday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $135.58.

Datadog Stock Performance

Shares of DDOG stock traded up $4.56 during trading on Wednesday, reaching $116.96. 5,472,722 shares of the company’s stock traded hands, compared to its average volume of 4,254,698. The firm’s 50-day moving average is $124.57 and its 200 day moving average is $119.16. The company has a market capitalization of $38.82 billion, a P/E ratio of 972.50 and a beta of 1.14. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last posted its 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. The firm had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Equities research analysts expect that Datadog will post -0.14 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the transaction, the insider now owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $130.06, for a total value of $2,500,533.56. Following the completion of the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at approximately $38,897,694.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Madre Armelle De sold 600 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 626,593 shares of company stock worth $80,422,044. 11.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its holdings in Datadog by 27.3% in the first quarter. ProShare Advisors LLC now owns 300,491 shares of the company’s stock worth $37,141,000 after purchasing an additional 64,361 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Datadog by 36.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock worth $796,000 after buying an additional 1,713 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Datadog by 3.1% in the 1st quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock worth $976,000 after buying an additional 234 shares during the last quarter. Donoghue Forlines LLC increased its position in Datadog by 29.1% during the 1st quarter. Donoghue Forlines LLC now owns 3,750 shares of the company’s stock valued at $464,000 after buying an additional 846 shares in the last quarter. Finally, Verus Capital Partners LLC raised its stake in Datadog by 4.5% during the first quarter. Verus Capital Partners LLC now owns 3,384 shares of the company’s stock valued at $418,000 after buying an additional 147 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.