DA Davidson Reiterates $160.00 Price Target for Datadog (NASDAQ:DDOG)

Key Points

• DA Davidson has raised its price target for Datadog (NASDAQ:DDOG) from $125.00 to $160.00, signaling an 18.77% potential upside from the previous close.
• The stock currently holds an average rating of "Moderate Buy" from analysts, with a consensus price target of $148.86.
• Recent insider selling includes CEO Olivier Pomel who sold shares worth over $1.6 million, while institutional investors significantly increased their stakes in the company.

Datadog (NASDAQ:DDOG - Get Free Report) has been given a $160.00 price objective by equities research analysts at DA Davidson in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's price objective points to a potential upside of 20.36% from the company's current price.

Other analysts have also recently issued research reports about the company. Wedbush reissued an "outperform" rating and set a $140.00 price objective on shares of Datadog in a research report on Wednesday, June 11th. Stifel Nicolaus increased their price objective on Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. UBS Group lifted their price objective on Datadog from $140.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Cantor Fitzgerald lifted their price objective on Datadog from $134.00 to $171.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, BTIG Research set a $136.00 price objective on Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Datadog currently has an average rating of "Moderate Buy" and a consensus target price of $148.86.

Datadog Stock Performance

DDOG opened at $132.94 on Tuesday. The firm has a market cap of $45.91 billion, a PE ratio of 289.01, a P/E/G ratio of 76.51 and a beta of 1.02. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $134.10 and a 200-day simple moving average of $120.85. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results 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. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Datadog's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities analysts predict that Datadog will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 9,469 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total value of $1,420,350.00. Following the completion of the sale, the executive directly owned 212,324 shares of the company's stock, valued at approximately $31,848,600. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total transaction of $2,211,450.00. Following the completion of the sale, the chief financial officer directly owned 399,270 shares of the company's stock, valued at $58,864,376.10. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 794,450 shares of company stock worth $100,732,467 in the last ninety days. 8.70% of the stock is owned by corporate insiders.

Institutional Trading of Datadog

A number of institutional investors have recently modified their holdings of DDOG. Putney Financial Group LLC bought a new position in shares of Datadog during the 4th quarter valued at $32,000. Elequin Capital LP bought a new stake in Datadog in the 4th quarter worth $34,000. Coppell Advisory Solutions LLC grew its holdings in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after acquiring an additional 177 shares during the last quarter. Costello Asset Management INC bought a new stake in Datadog in the 1st quarter worth $30,000. Finally, Cornerstone Planning Group LLC grew its holdings in Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after acquiring an additional 154 shares during 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.