Datadog, Inc. (NASDAQ:DDOG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Datadog, Inc. (NASDAQ:DDOG) have been assigned a consensus recommendation of “Moderate Buy” from the thirty analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $139.88.

Several research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 target price on shares of Datadog in a report on Friday, August 9th. Barclays reduced their price target on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Needham & Company LLC dropped their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Loop Capital restated a “buy” rating and set a $160.00 price objective on shares of Datadog in a report on Friday, July 5th.

Datadog Price Performance

DDOG opened at $114.76 on Tuesday. The stock’s 50 day simple moving average is $114.64 and its 200 day simple moving average is $119.60. The firm has a market cap of $38.39 billion, a price-to-earnings ratio of 358.63, a PEG ratio of 27.84 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 released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Datadog will post 0.41 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Datadog news, insider Madre Armelle De sold 1,749 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total value of $218,625.00. Following the transaction, the insider now directly owns 92,025 shares in the company, valued at approximately $11,503,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The disclosure for this sale can be found here. Insiders have sold 561,997 shares of company stock valued at $68,517,631 in the last ninety days. 11.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. lifted its stake in shares of Datadog by 23.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,402 shares of the company’s stock valued at $571,000 after purchasing an additional 847 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Datadog during the second quarter worth about $954,000. Clearbridge Investments LLC increased its position in shares of Datadog by 5.2% during the second quarter. Clearbridge Investments LLC now owns 259,107 shares of the company’s stock valued at $33,604,000 after acquiring an additional 12,785 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Datadog by 10.9% in the 2nd quarter. Cetera Investment Advisers now owns 37,570 shares of the company’s stock valued at $4,872,000 after acquiring an additional 3,690 shares during the period. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of Datadog in the 2nd quarter worth approximately $1,410,000. 78.29% of the stock is currently 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.