Datadog (NASDAQ:DDOG) Raised to “Buy” at BTIG Research

BTIG Research upgraded shares of Datadog (NASDAQ:DDOG) from a neutral rating to a buy rating in a research note published on Thursday, Marketbeat.com reports. BTIG Research currently has $143.00 price target on the stock.

Other research analysts also recently issued reports about the stock. Loop Capital reiterated a buy rating and issued a $160.00 price target on shares of Datadog in a research report on Friday, July 5th. Bank of America raised shares of Datadog from a neutral rating to a buy rating and increased their price objective for the company from $143.00 to $155.00 in a report on Thursday, May 30th. Monness Crespi & Hardt reissued a sell rating and set a $98.00 price target (down from $290.00) on shares of Datadog in a research note on Friday, June 14th. Baird R W upgraded Datadog from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company raised Datadog from an equal weight rating to an overweight rating and upped their target price for the company from $130.00 to $150.00 in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $138.37.

Datadog Trading Down 4.4 %

Shares of DDOG stock traded down $5.00 on Thursday, hitting $108.10. 2,754,750 shares of the company’s stock traded hands, compared to its average volume of 4,027,197. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The company’s fifty day simple moving average is $120.71 and its 200 day simple moving average is $123.79. The stock has a market capitalization of $36.16 billion, a price-to-earnings ratio of 353.44, a P/E/G ratio of 38.34 and a beta of 1.11. Datadog has a one year low of $77.81 and a one year high of $138.61.

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

Insider Transactions at Datadog

In other news, Director Titilope Cole sold 2,210 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $112.34, for a total transaction of $248,271.40. Following the transaction, the director now owns 6,451 shares of the company’s stock, valued at $724,705.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Titilope Cole sold 2,210 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $112.34, for a total transaction of $248,271.40. Following the sale, the director now directly owns 6,451 shares of the company’s stock, valued at approximately $724,705.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 857,606 shares of company stock valued at $103,799,779. 11.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Datadog

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Datadog during the 4th quarter worth about $384,986,000. Kodai Capital Management LP acquired a new stake in shares of Datadog during the first quarter worth approximately $116,054,000. 1832 Asset Management L.P. grew its position in Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares in the last quarter. DNB Asset Management AS increased its stake in Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after buying an additional 806,741 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Datadog by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after buying an additional 734,539 shares during the period. Institutional investors and hedge funds 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.