Datadog’s (DDOG) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Datadog (NASDAQ:DDOG) in a report released on Friday, Benzinga reports. The brokerage currently has a $151.00 price target on the stock.

A number of other equities research analysts have also issued reports on DDOG. Monness Crespi & Hardt upgraded shares of Datadog from a sell rating to a neutral rating in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Datadog from $120.00 to $125.00 and gave the company a neutral rating in a research note on Friday. Baird R W upgraded shares of Datadog from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Rosenblatt Securities restated a buy rating and issued a $146.00 target price on shares of Datadog in a research note on Monday, May 6th. Finally, Mizuho upgraded shares of Datadog from a neutral rating to an outperform rating and upped their target price for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $138.93.

Datadog Stock Performance

NASDAQ:DDOG opened at $112.16 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a 50-day moving average of $119.43 and a two-hundred day moving average of $122.91. The stock has a market cap of $37.52 billion, a P/E ratio of 350.50, a PEG ratio of 37.24 and a beta of 1.11. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, research analysts expect that Datadog will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, President Amit Agarwal sold 11,387 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,246,307.15. Following the completion of the sale, the president now directly owns 282,694 shares in the company, valued at $30,940,858.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, President Amit Agarwal sold 11,387 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,246,307.15. Following the completion of the sale, the president now owns 282,694 shares in the company, valued at approximately $30,940,858.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam Blitzer sold 11,946 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the transaction, the chief operating officer now owns 236,640 shares in the company, valued at approximately $25,900,248. The disclosure for this sale can be found here. Insiders sold 857,306 shares of company stock worth $101,950,263 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC acquired a new position in shares of Datadog during the fourth quarter worth approximately $214,000. Private Trust Co. NA grew its position in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares in the last quarter. International Assets Investment Management LLC bought a new position in Datadog in the fourth quarter valued at $1,915,000. Sequoia Financial Advisors LLC bought a new position in Datadog in the fourth quarter valued at $233,000. Finally, Financial Counselors Inc. lifted its stake in Datadog by 10.5% in the fourth quarter. Financial Counselors Inc. now owns 30,707 shares of the company’s stock valued at $3,727,000 after acquiring an additional 2,910 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.