Datadog (NASDAQ:DDOG) Stock Price Up 3.2% – Time to Buy?

Datadog, Inc. (NASDAQ:DDOG) was up 3.2% during trading on Tuesday . The stock traded as high as $92.50 and last traded at $91.07. Approximately 1,903,459 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 5,123,755 shares. The stock had previously closed at $88.20.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays dropped their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Truist Financial cut their price objective on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. DA Davidson boosted their price objective on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and lowered their target price for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $156.67.

Datadog Stock Performance

The company’s 50-day moving average price is $118.44 and its 200 day moving average price is $130.26. The stock has a market cap of $29.81 billion, a PE ratio of 169.95, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last announced its 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 net margin of 6.85% and a return on equity of 8.28%. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 601,412 shares of company stock worth $75,444,584. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in DDOG. Retirement Wealth Solutions LLC purchased a new position in Datadog during the fourth quarter valued at $30,000. Avior Wealth Management LLC grew its position in shares of Datadog by 55.9% during the fourth 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. Putney Financial Group LLC bought a new stake in shares of Datadog in the fourth quarter worth about $32,000. Quarry LP bought a new position in Datadog during the third quarter valued at approximately $33,000. Finally, Elequin Capital LP purchased a new position in Datadog during the 4th quarter valued at approximately $34,000. 78.29% of the stock is owned by hedge funds and other 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.