Bank of America Increases Datadog (NASDAQ:DDOG) Price Target to $150.00

Datadog (NASDAQ:DDOG - Get Free Report) had its target price upped by analysts at Bank of America from $138.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price would suggest a potential upside of 17.30% from the company's previous close.

Several other research firms also recently commented on DDOG. Macquarie decreased their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Truist Financial reduced their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Scotiabank set a $130.00 target price on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Canaccord Genuity Group cut their price target on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Barclays raised their price objective on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.52.

Datadog Price Performance

NASDAQ DDOG traded up $3.03 during trading hours on Wednesday, reaching $127.87. 1,116,883 shares of the stock traded hands, compared to its average volume of 4,393,402. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a 50 day simple moving average of $109.26 and a two-hundred day simple moving average of $122.95. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a market cap of $44.16 billion, a price-to-earnings ratio of 276.78, a price-to-earnings-growth ratio of 67.58 and a beta of 1.01.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. Datadog's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $0.44 EPS. On average, analysts predict that Datadog will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. 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 the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total value of $13,451,522.15. Following the transaction, the chief technology officer now directly owns 466,535 shares of the company's stock, valued at $49,373,399.05. This represents a 21.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 725,582 shares of company stock valued at $80,913,097. Corporate insiders own 8.70% of the company's stock.

Institutional Trading of Datadog

Hedge funds have recently made changes to their positions in the stock. Putney Financial Group LLC purchased a new stake in Datadog during the 4th quarter valued at about $32,000. Elequin Capital LP bought a new position in shares of Datadog in the fourth quarter worth approximately $34,000. Coppell Advisory Solutions LLC grew its holdings in shares of 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 buying an additional 177 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Datadog during the first quarter valued at approximately $30,000. Finally, Summit Securities Group LLC purchased a new position in Datadog in the 4th quarter worth approximately $43,000. 78.29% of the stock is owned by 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.

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