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

Needham & Company LLC reiterated their buy rating on shares of Datadog (NASDAQ:DDOG) in a report released on Tuesday,Benzinga reports. They currently have a $160.00 price target on the stock.

A number of other brokerages also recently issued reports on DDOG. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 7th. Barclays reduced their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group upped their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Cantor Fitzgerald began coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. Finally, Loop Capital upped their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Price Performance

DDOG stock opened at $111.46 on Tuesday. Datadog has a one year low of $98.80 and a one year high of $170.08. The stock has a market cap of $38.20 billion, a PE ratio of 218.55, a P/E/G ratio of 44.03 and a beta of 1.22. The firm has a 50 day simple moving average of $135.78 and a two-hundred day simple moving average of $131.71.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, research analysts expect that Datadog will post 0.34 EPS for the current fiscal year.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 435,701 shares of the company’s stock, valued at $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 589,353 shares of company stock worth $86,544,020 over the last quarter. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Large investors have recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the 4th quarter valued at $30,000. Putney Financial Group LLC purchased a new stake in Datadog in the 4th quarter valued at $32,000. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares in the last quarter. Elequin Capital LP purchased a new stake in Datadog in the 4th quarter valued at $34,000. Finally, True Wealth Design LLC grew its holdings in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares in the last quarter. 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.