Datadog (NASDAQ:DDOG) Price Target Raised to $175.00

Datadog (NASDAQ:DDOG - Free Report) had its price objective increased by Bank of America from $150.00 to $175.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on DDOG. BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a "buy" rating in a report on Tuesday, May 6th. Stifel Nicolaus boosted their price target on shares of Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a report on Thursday, June 26th. Macquarie cut their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Canaccord Genuity Group lowered their price objective on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Scotiabank set a $130.00 price target on shares of Datadog and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $143.90.

Datadog Trading Down 1.8%

Shares of DDOG stock traded down $2.74 during trading hours on Monday, hitting $152.41. 16,214,921 shares of the company's stock traded hands, compared to its average volume of 4,600,037. The stock's 50 day simple moving average is $120.00 and its 200 day simple moving average is $120.71. The stock has a market cap of $52.63 billion, a PE ratio of 331.33, a price-to-earnings-growth ratio of 85.83 and a beta of 1.03. Datadog has a 12 month low of $81.63 and a 12 month high of $170.08. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results 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. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter last year, the firm earned $0.44 earnings per share. Datadog's quarterly revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts anticipate that Datadog will post 0.34 EPS for the current year.

Insider Activity

In other news, CFO David M. Obstler sold 15,000 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the sale, the chief financial officer owned 399,270 shares in the company, valued at approximately $52,004,917.50. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Monday, June 16th. The stock was sold at an average price of $120.86, for a total transaction of $956,727.76. Following the completion of the transaction, the director owned 388,205 shares in the company, valued at approximately $46,918,456.30. The trade was a 2.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 794,413 shares of company stock worth $94,440,927. Corporate insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Datadog

A number of large investors have recently added to or reduced their stakes in the business. OMNI 360 Wealth Inc. purchased a new position in Datadog in the 2nd quarter worth $205,000. Kera Capital Partners Inc. purchased a new position in Datadog in the 2nd quarter worth $233,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in Datadog in the 1st quarter worth $1,172,000. Inspire Investing LLC raised its position in Datadog by 70.4% in the 1st quarter. Inspire Investing LLC now owns 3,078 shares of the company's stock worth $305,000 after purchasing an additional 1,272 shares during the period. Finally, DLD Asset Management LP purchased a new position in Datadog in the 1st quarter worth $1,379,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

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.