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

Wells Fargo & Company upgraded shares of Datadog (NASDAQ:DDOG) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat.com reports. Wells Fargo & Company currently has $150.00 price target on the stock, up from their previous price target of $130.00.

DDOG has been the subject of several other research reports. Mizuho raised their price target on Datadog from $108.00 to $130.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Cantor Fitzgerald restated an overweight rating and set a $150.00 price target on shares of Datadog in a report on Wednesday, April 17th. Truist Financial raised their price target on Datadog from $140.00 to $155.00 and gave the company a buy rating in a report on Wednesday, February 14th. Citigroup raised their price target on Datadog from $125.00 to $150.00 and gave the company a buy rating in a report on Monday, January 22nd. Finally, Wolfe Research raised their price target on Datadog from $140.00 to $150.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $131.70.

Datadog Stock Down 1.4 %

Shares of DDOG opened at $125.25 on Tuesday. The business’s 50 day moving average is $125.21 and its 200 day moving average is $116.73. The company has a market capitalization of $41.57 billion, a PE ratio of 1,043.75 and a beta of 1.15. Datadog has a 12-month low of $63.00 and a 12-month 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 issued its 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 the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. Research analysts expect that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 133,315 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Olivier Pomel sold 133,315 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 33,311 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now owns 294,012 shares in the company, valued at $37,804,062.96. The disclosure for this sale can be found here. Insiders sold a total of 759,908 shares of company stock valued at $97,728,997 in the last ninety days. Corporate insiders own 14.97% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds have recently modified their holdings of DDOG. CWM LLC grew its holdings in Datadog by 12.2% during the third quarter. CWM LLC now owns 5,289 shares of the company’s stock worth $482,000 after acquiring an additional 574 shares during the period. Ronald Blue Trust Inc. grew its holdings in Datadog by 239.7% during the third quarter. Ronald Blue Trust Inc. now owns 727 shares of the company’s stock worth $72,000 after acquiring an additional 513 shares during the period. Global Retirement Partners LLC grew its holdings in Datadog by 54.5% during the third quarter. Global Retirement Partners LLC now owns 649 shares of the company’s stock worth $57,000 after acquiring an additional 229 shares during the period. Flagship Harbor Advisors LLC grew its holdings in Datadog by 6.9% during the third quarter. Flagship Harbor Advisors LLC now owns 2,339 shares of the company’s stock worth $213,000 after acquiring an additional 150 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in Datadog by 83.6% during the third quarter. Exchange Traded Concepts LLC now owns 10,984 shares of the company’s stock worth $1,001,000 after acquiring an additional 5,002 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.