Datadog (NASDAQ:DDOG) Upgraded to “Neutral” at Monness Crespi & Hardt

Datadog (NASDAQ:DDOG) was upgraded by investment analysts at Monness Crespi & Hardt from a “sell” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat reports.

Other analysts have also issued research reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 price objective on shares of Datadog in a research report on Monday, April 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. BMO Capital Markets reduced their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Datadog in a report on Wednesday, June 26th. Finally, Baird R W upgraded Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.37.

Datadog Stock Up 2.3 %

Datadog stock traded up $2.43 during midday trading on Wednesday, hitting $107.90. 5,228,979 shares of the stock were exchanged, compared to its average volume of 4,067,263. Datadog has a 52-week low of $77.81 and a 52-week high of $138.61. The business’s 50-day moving average price is $119.67 and its 200-day moving average price is $123.34. The stock has a market capitalization of $36.09 billion, a price-to-earnings ratio of 337.81, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. The business had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. On average, research analysts expect that Datadog will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, COO Adam Blitzer sold 11,946 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the transaction, the chief operating officer now directly owns 236,640 shares of the company’s stock, valued at approximately $25,900,248. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Datadog news, COO Adam Blitzer sold 11,946 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,307,489.70. Following the completion of the sale, the chief operating officer now directly owns 236,640 shares in the company, valued at $25,900,248. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. Insiders sold 771,669 shares of company stock valued at $93,026,032 over the last quarter. 11.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

Hedge funds have recently bought and sold shares of the business. Spire Wealth Management boosted its position in shares of Datadog by 2,148.5% in the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after purchasing an additional 5,092 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Datadog by 47.8% in the fourth quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock worth $23,505,000 after acquiring an additional 62,533 shares during the last quarter. Congress Asset Management Co. MA bought a new position in shares of Datadog during the first quarter valued at $1,083,000. Massachusetts Financial Services Co. MA boosted its stake in Datadog by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its stake in Datadog by 5.6% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock worth $20,077,000 after purchasing an additional 8,830 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

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.