DA Davidson Upgrades Datadog (NASDAQ:DDOG) to “Buy”

Datadog (NASDAQ:DDOG) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $140.00 price target on the stock, up from their prior price target of $115.00. DA Davidson’s price target would suggest a potential upside of 20.46% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Datadog in a research report on Friday, August 9th. Scotiabank lowered their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research report on Thursday, August 1st. Finally, UBS Group upped their price target on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.85.

Datadog Price Performance

Shares of DDOG stock opened at $116.22 on Tuesday. The company has a market capitalization of $38.88 billion, a P/E ratio of 363.19, a P/E/G ratio of 28.94 and a beta of 1.11. The company’s 50-day simple moving average is $113.49 and its two-hundred day simple moving average is $119.20. Datadog has a one year low of $77.81 and a one year high of $138.61.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts expect that Datadog will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction 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 owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 422,991 shares of company stock worth $50,448,980. 11.78% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently made changes to their positions in DDOG. Riverview Trust Co acquired a new stake in Datadog during the first quarter valued at $26,000. SouthState Corp acquired a new stake in Datadog during the second quarter valued at $26,000. Raleigh Capital Management Inc. acquired a new stake in Datadog during the fourth quarter valued at $29,000. Jones Financial Companies Lllp acquired a new stake in Datadog during the fourth quarter valued at $33,000. Finally, Blue Trust Inc. acquired a new stake in Datadog during the second quarter valued at $37,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.