Citigroup Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its target price raised by equities researchers at Citigroup from $150.00 to $157.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 26.12% from the company’s previous close.

A number of other equities research analysts have also recently commented on DDOG. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Thursday. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, August 1st. BNP Paribas initiated coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Finally, Evercore ISI started coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.14.

Datadog Trading Down 4.1 %

Shares of NASDAQ:DDOG traded down $5.31 on Friday, reaching $124.48. The company had a trading volume of 3,366,416 shares, compared to its average volume of 3,785,020. The firm has a market capitalization of $41.97 billion, a PE ratio of 276.63, a PEG ratio of 22.93 and a beta of 1.10. Datadog has a 52-week low of $98.80 and a 52-week high of $138.61. The firm’s 50 day simple moving average is $119.21 and its 200-day simple moving average is $119.49.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 earnings per share. As a group, equities research analysts predict that Datadog will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the sale, the chief executive officer now directly owns 392,111 shares in the company, valued at $48,076,729.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the sale, the chief executive officer now owns 392,111 shares of the company’s stock, valued at approximately $48,076,729.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 444,291 shares of company stock worth $54,154,859. Company insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after acquiring an additional 171,693 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 worth $511,620,000 after buying an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Datadog by 5.9% in the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after buying an additional 138,700 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Datadog by 19.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after buying an additional 172,887 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in Datadog during the first quarter worth about $116,054,000. 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.