BMO Capital Markets Cuts Datadog (NASDAQ:DDOG) Price Target to $140.00

Datadog (NASDAQ:DDOG) had its price target dropped by BMO Capital Markets from $155.00 to $140.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 19.53% from the company’s current price.

Several other equities research analysts have also recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Datadog in a research report on Friday, February 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $150.00 in a report on Tuesday, April 23rd. Wolfe Research lifted their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Truist Financial increased their target price on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.85.

Datadog Stock Up 4.2 %

Shares of DDOG stock traded up $4.73 during midday trading on Wednesday, reaching $117.13. 3,875,058 shares of the stock were exchanged, compared to its average volume of 4,235,717. Datadog has a 1 year low of $77.81 and a 1 year high of $138.61. The firm has a market cap of $38.87 billion, a PE ratio of 969.50 and a beta of 1.14. The company’s 50 day moving average is $124.57 and its two-hundred day moving average is $119.16. 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 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. The company had revenue of $589.65 million during 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%. Datadog’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business earned ($0.08) EPS. On average, equities research analysts predict that Datadog will post -0.14 EPS for the current year.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $43,858,972.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total value of $3,111,316.20. Following the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the sale, the chief financial officer now owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The disclosure for this sale can be found here. Insiders have sold a total of 626,593 shares of company stock worth $80,422,044 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Datadog by 27.3% during the first quarter. ProShare Advisors LLC now owns 300,491 shares of the company’s stock valued at $37,141,000 after buying an additional 64,361 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of Datadog by 36.2% in the first quarter. Avantax Advisory Services Inc. now owns 6,442 shares of the company’s stock worth $796,000 after purchasing an additional 1,713 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Datadog by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 7,899 shares of the company’s stock valued at $976,000 after purchasing an additional 234 shares during the last quarter. Donoghue Forlines LLC grew its position in Datadog by 29.1% in the first quarter. Donoghue Forlines LLC now owns 3,750 shares of the company’s stock worth $464,000 after acquiring an additional 846 shares in the last quarter. Finally, Verus Capital Partners LLC grew its stake in shares of 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 currently owned by 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.