Datadog (NASDAQ:DDOG) Price Target Raised to $145.00 at BMO Capital Markets

Datadog (NASDAQ:DDOG) had its price target increased by BMO Capital Markets from $135.00 to $145.00 in a research note published on Friday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on DDOG. Sanford C. Bernstein dropped their price objective on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. BNP Paribas started coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price on the stock. Evercore ISI started coverage on Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and increased their target price for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.96.

Datadog Stock Down 4.1 %

NASDAQ:DDOG traded down $5.34 during midday trading on Friday, hitting $124.45. The stock had a trading volume of 5,904,912 shares, compared to its average volume of 3,125,492. Datadog has a one year low of $98.80 and a one year high of $138.61. The company has a market capitalization of $41.96 billion, a price-to-earnings ratio of 276.56, a PEG ratio of 23.44 and a beta of 1.10. The stock has a 50-day moving average of $119.67 and a 200 day moving average of $119.58.

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

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,452 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the sale, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. 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 other news, General Counsel Kerry Acocella sold 2,452 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $120.06, for a total transaction of $294,387.12. Following the sale, the general counsel now directly owns 74,421 shares in the company, valued at $8,934,985.26. 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. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 444,291 shares of company stock worth $54,154,859. Insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC boosted its holdings in Datadog by 14.8% in the 3rd quarter. Intech Investment Management LLC now owns 16,084 shares of the company’s stock worth $1,851,000 after buying an additional 2,069 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in Datadog by 3.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 8,237 shares of the company’s stock worth $948,000 after purchasing an additional 282 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Datadog by 15.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 940 shares of the company’s stock worth $108,000 after purchasing an additional 127 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its stake in Datadog by 28.4% in the 3rd quarter. Kirtland Hills Capital Management LLC now owns 3,368 shares of the company’s stock worth $388,000 after purchasing an additional 744 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in Datadog by 2.1% in the 3rd quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after purchasing an additional 126,613 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.