Datadog’s (DDOG) Buy Rating Reiterated at Needham & Company LLC

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $160.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 17.74% from the stock’s previous close.

DDOG has been the topic of a number of other reports. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Scotiabank cut their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Barclays upped their price objective on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

Datadog Stock Down 8.2 %

Shares of DDOG opened at $135.89 on Friday. The business has a 50-day simple moving average of $146.40 and a two-hundred day simple moving average of $130.89. Datadog has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market cap of $46.16 billion, a price-to-earnings ratio of 256.40, a PEG ratio of 16.83 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%. On average, equities analysts anticipate that Datadog will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares of the company’s stock, valued at $67,642,580.25. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 627,586 shares of company stock worth $92,540,479. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DDOG. True Wealth Design LLC increased its holdings in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Datadog during the 4th quarter worth approximately $30,000. Avior Wealth Management LLC increased its stake in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Datadog during the third quarter worth $33,000. 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.