Datadog (NASDAQ:DDOG) Earns “Overweight” Rating from Cantor Fitzgerald

Datadog (NASDAQ:DDOG)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They presently have a $150.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 20.53% from the company’s current price.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Mizuho increased their price target on Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Robert W. Baird lifted their price objective on Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Royal Bank of Canada upped their target price on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Wolfe Research raised their price target on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.52.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $2.50 during trading on Wednesday, reaching $124.45. 2,139,916 shares of the stock were exchanged, compared to its average volume of 4,064,794. The firm has a market cap of $41.30 billion, a PE ratio of 1,036.50 and a beta of 1.15. 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 has a 12 month low of $62.60 and a 12 month high of $138.61. The stock has a 50-day moving average price of $126.45 and a 200-day moving average price of $115.43.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The business 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 firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. Research analysts expect that Datadog will post -0.14 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the transaction, the executive now owns 182,593 shares in the company, valued at $23,477,807.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CRO Sean Michael Walters sold 20,692 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,660,577.36. Following the transaction, the executive now directly owns 182,593 shares of the company’s stock, valued at approximately $23,477,807.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the sale, the insider now directly 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. Over the last three months, insiders have sold 745,984 shares of company stock worth $95,917,681. Insiders own 14.97% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds and other institutional investors have recently bought and sold shares of DDOG. OneAscent Financial Services LLC grew its stake in shares of Datadog by 63.1% in the 1st quarter. OneAscent Financial Services LLC now owns 3,517 shares of the company’s stock valued at $435,000 after buying an additional 1,361 shares during the period. Capital Insight Partners LLC boosted its holdings in Datadog by 42.0% in the first quarter. Capital Insight Partners LLC now owns 4,514 shares of the company’s stock worth $558,000 after acquiring an additional 1,336 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Datadog in the first quarter valued at approximately $20,265,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Datadog by 9.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,807 shares of the company’s stock valued at $1,212,000 after acquiring an additional 831 shares in the last quarter. Finally, TrueMark Investments LLC raised its position in shares of Datadog by 13.5% during the first quarter. TrueMark Investments LLC now owns 16,026 shares of the company’s stock worth $1,981,000 after purchasing an additional 1,911 shares during the period. 78.29% of the stock is owned by institutional investors.

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.