Rosenblatt Securities Issues Positive Forecast for Datadog (NASDAQ:DDOG) Stock Price

Datadog (NASDAQ:DDOG) had its price target upped by equities research analysts at Rosenblatt Securities from $140.00 to $148.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 18.92% from the company’s previous close.

Several other research firms also recently weighed in on DDOG. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research note on Thursday. Robert W. Baird boosted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday. BNP Paribas began coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target on the stock. Scotiabank dropped their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday. Finally, Sanford C. Bernstein dropped their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.21.

Datadog Stock Performance

DDOG stock traded down $5.34 on Friday, hitting $124.45. 5,883,177 shares of the company’s stock were exchanged, compared to its average volume of 3,796,618. Datadog has a 12-month low of $98.80 and a 12-month high of $138.61. The firm has a 50 day moving average price of $119.21 and a two-hundred day moving average price of $119.49. The stock has a market cap of $41.96 billion, a P/E ratio of 276.56, a price-to-earnings-growth ratio of 22.93 and a beta of 1.10.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share 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 firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same period in the previous year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. Sell-side analysts expect that Datadog will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on 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 directly owns 347,684 shares in the company, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. 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 three months, insiders sold 444,291 shares of company stock worth $54,154,859. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DDOG. Heritage Investors Management Corp acquired a new stake in shares of Datadog in the third quarter valued at $1,157,000. Vanguard Group Inc. raised its stake in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after acquiring an additional 171,693 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Datadog by 129.2% in the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after acquiring an additional 344,431 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Datadog by 23.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after acquiring an additional 32,217 shares in the last quarter. Finally, Plato Investment Management Ltd raised its stake in shares of Datadog by 1,648.8% in the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after acquiring an additional 4,864 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.