Datadog’s (DDOG) “Buy” Rating Reiterated at Needham & Company LLC

Datadog (NASDAQ:DDOG)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $160.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 41.38% from the company’s current price.

Several other research firms also recently issued reports on DDOG. Cantor Fitzgerald started coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. BMO Capital Markets boosted their price target on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial reduced their price target on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Barclays dropped their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, TD Cowen reiterated a “buy” rating and set a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Price Performance

Shares of DDOG stock opened at $113.17 on Tuesday. Datadog has a 1-year low of $98.80 and a 1-year high of $170.08. The firm has a market cap of $38.45 billion, a PE ratio of 221.91, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15. The company has a 50-day moving average of $137.83 and a two-hundred day moving average of $131.97.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Sell-side analysts anticipate that Datadog will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the completion of the sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 556,674 shares of company stock worth $82,904,025 in the last ninety days. 11.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DDOG. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the fourth quarter worth about $30,000. Putney Financial Group LLC purchased a new position in shares of Datadog in the 4th quarter valued at approximately $32,000. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% in 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 during the period. Elequin Capital LP purchased a new stake in shares of Datadog during the fourth quarter worth approximately $34,000. Finally, True Wealth Design LLC lifted its holdings in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. 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.