Datadog (NASDAQ:DDOG) Upgraded to “Strong-Buy” at Wedbush

Datadog (NASDAQ:DDOG) was upgraded by analysts at Wedbush to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports.

Several other research firms also recently weighed in on DDOG. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Barclays dropped their price target on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Evercore ISI initiated coverage on Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 price objective for the company. Finally, Scotiabank decreased their price objective on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.11.

Datadog Trading Up 0.2 %

Shares of DDOG opened at $126.22 on Thursday. The company has a market capitalization of $42.22 billion, a PE ratio of 394.44, a PEG ratio of 22.85 and a beta of 1.11. The stock’s 50-day moving average price is $116.27 and its two-hundred day moving average price is $119.42. Datadog has a 12 month low of $77.81 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 26.7% on a year-over-year basis. Equities research analysts predict that Datadog will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the sale, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Sean Michael Walters sold 2,322 shares of Datadog stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the transaction, the executive now owns 183,512 shares of the company’s stock, valued at $22,939,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 529,928 shares of company stock valued at $63,079,091. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DDOG. Kodai Capital Management LP purchased a new stake in shares of Datadog during the first quarter worth $116,054,000. DNB Asset Management AS raised its stake in shares of Datadog by 1,974.5% during the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the period. Thrivent Financial for Lutherans boosted its stake in Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after purchasing an additional 739,011 shares during the period. Bank of Montreal Can grew its holdings in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after buying an additional 331,808 shares during the period. 78.29% of the stock is owned by 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.