Datadog (NASDAQ:DDOG) Shares Gap Down on Disappointing Earnings

Datadog, Inc. (NASDAQ:DDOG)’s stock price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $148.09, but opened at $136.55. Datadog shares last traded at $132.25, with a volume of 6,484,784 shares.

The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 9.41% and a net margin of 7.58%.

Analysts Set New Price Targets

Several brokerages have recently commented on DDOG. Robert W. Baird upped their price objective on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. Rosenblatt Securities upped their target price on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald assumed coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.52.

Insider Transactions at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 777,586 shares of company stock worth $111,444,979 over the last quarter. 11.78% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Several institutional investors have recently made changes to their positions in DDOG. True Wealth Design LLC grew its holdings in Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Datadog during the fourth quarter valued at $30,000. Avior Wealth Management LLC grew its stake in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. Finally, Quarry LP purchased a new stake in Datadog in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

The firm has a market cap of $44.74 billion, a P/E ratio of 248.68, a P/E/G ratio of 16.83 and a beta of 1.15. The firm’s fifty day simple moving average is $146.40 and its 200 day simple moving average is $130.89.

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.