Datadog’s (DDOG) Overweight Rating Reaffirmed at Cantor Fitzgerald

Datadog (NASDAQ:DDOG)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a research note issued on Wednesday, Benzinga reports. They presently have a $150.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 20.53% from the company’s previous close.

Several other analysts have also commented on the stock. Barclays lifted their price objective on shares of Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Truist Financial lifted their price target on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (up from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Canaccord Genuity Group restated a “buy” rating and issued a $150.00 target price on shares of Datadog in a research note on Friday, February 23rd. Finally, Needham & Company LLC upped their price target on Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.52.

Datadog Stock Performance

Shares of DDOG traded down $2.50 on Wednesday, reaching $124.45. 2,139,916 shares of the company’s stock traded hands, compared to its average volume of 4,064,794. The stock’s 50 day simple moving average is $126.45 and its two-hundred day simple moving average is $115.43. The stock has a market cap of $41.30 billion, a PE ratio of 1,036.50 and a beta of 1.15. Datadog has a 52-week low of $62.60 and a 52-week high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, analysts forecast that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other news, insider Madre Armelle De sold 600 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the transaction, the chief executive officer now owns 299,075 shares in the company, valued at $38,825,916.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Madre Armelle De sold 600 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the transaction, the insider now owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 745,984 shares of company stock worth $95,917,681. 14.97% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently bought and sold shares of DDOG. Norges Bank bought a new position in shares of Datadog in the 4th quarter worth approximately $384,986,000. Massachusetts Financial Services Co. MA bought a new position in Datadog in the third quarter worth $189,668,000. Alkeon Capital Management LLC purchased a new position in Datadog during the third quarter valued at $127,526,000. Vanguard Group Inc. boosted its holdings in shares of Datadog by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after buying an additional 1,191,742 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Datadog by 104.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company’s stock valued at $315,783,000 after buying an additional 1,066,716 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.