Datadog, Inc. (NASDAQ:DDOG) Given Consensus Recommendation of "Moderate Buy" by Analysts

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) has earned an average rating of "Moderate Buy" from the thirty-one research firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $142.52.

A number of research firms recently commented on DDOG. Macquarie dropped their target price 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. DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Datadog in a research note on Wednesday, June 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, UBS Group lifted their target price on shares of Datadog from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th.

Datadog Trading Up 4.2%

Shares of NASDAQ:DDOG opened at $130.04 on Thursday. The company has a 50 day moving average of $109.91 and a 200-day moving average of $123.00. The firm has a market cap of $44.91 billion, a P/E ratio of 282.70, a P/E/G ratio of 69.19 and a beta of 1.01. Datadog has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a current ratio of 2.74, a quick 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, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $741.73 million. During the same quarter last year, the business posted $0.44 earnings per share. The company's quarterly revenue was up 24.6% on a year-over-year basis. As a group, analysts anticipate that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 9,468 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,183,500.00. Following the completion of the sale, the executive now owns 221,793 shares of the company's stock, valued at $27,724,125. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the sale, the chief technology officer now owns 466,535 shares of the company's stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 762,966 shares of company stock valued at $85,558,325. Insiders own 8.70% of the company's stock.

Institutional Trading of Datadog

A number of institutional investors and hedge funds have recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Datadog by 887.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after purchasing an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after buying an additional 154 shares during the last quarter. Costello Asset Management INC acquired a new position in shares of Datadog during the first quarter worth approximately $30,000. Putney Financial Group LLC acquired a new position in shares of Datadog during the fourth quarter worth approximately $32,000. Finally, Elequin Capital LP acquired a new position in shares of Datadog during the fourth quarter worth approximately $34,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.