Datadog (NASDAQ:DDOG) Stock Rating Upgraded by Monness Crespi & Hardt

Datadog (NASDAQ:DDOG) was upgraded by Monness Crespi & Hardt from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage presently has a $155.00 price objective on the stock. Monness Crespi & Hardt’s target price suggests a potential upside of 24.55% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Barclays cut their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a report on Thursday, August 1st. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. Finally, Evercore ISI started coverage on Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Down 4.1 %

DDOG traded down $5.34 during trading on Thursday, hitting $124.45. The company’s stock had a trading volume of 5,904,912 shares, compared to its average volume of 3,796,618. Datadog has a one year low of $98.80 and a one year high of $138.61. The firm has a market cap of $41.96 billion, a PE ratio of 276.56, a P/E/G ratio of 22.93 and a beta of 1.10. The business’s 50 day simple moving average is $119.67 and its 200-day simple moving average is $119.58.

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

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s 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 transaction, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the completion of the transaction, the director now directly owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 444,291 shares of company stock worth $54,154,859 in the last quarter. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of DDOG. Heritage Investors Management Corp acquired a new stake in shares of Datadog in the 3rd quarter worth about $1,157,000. Vanguard Group Inc. boosted its holdings in Datadog by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after buying an additional 171,693 shares during the period. Bank of Montreal Can boosted its holdings in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Datadog by 23.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after purchasing an additional 32,217 shares during the period. Finally, Plato Investment Management Ltd raised its position in shares of Datadog by 1,648.8% during the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock valued at $638,000 after buying an additional 4,864 shares in the last quarter. 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.