Datadog’s (DDOG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research note released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $119.00 price objective on the stock.

A number of other brokerages have also weighed in on DDOG. Needham & Company LLC cut their target price on shares of Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday. Wedbush decreased their target price on Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday. Macquarie reduced their price target on Datadog from $175.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday. Canaccord Genuity Group lowered their price objective on Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.54.

Datadog Trading Down 1.2 %

Shares of NASDAQ:DDOG opened at $107.88 on Wednesday. The company has a market cap of $36.98 billion, a price-to-earnings ratio of 211.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog has a 12 month low of $81.63 and a 12 month high of $170.08. The company has a 50-day moving average price of $100.20 and a 200-day moving average price of $125.81.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. As a group, research analysts forecast that Datadog will post 0.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the sale, the director now directly owns 82,324 shares in the company, valued at $9,402,224.04. This trade represents a 23.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 559,867 shares of company stock valued at $57,550,902 in the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the fourth quarter valued at about $30,000. Putney Financial Group LLC purchased a new stake in shares of Datadog during the 4th quarter worth approximately $32,000. Avior Wealth Management LLC boosted its position in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Datadog in the fourth quarter valued at $34,000. Finally, Coppell Advisory Solutions LLC raised its stake in Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Institutional investors 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.