Datadog, Inc. (NASDAQ:DDOG) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirty-one analysts that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $141.54.

Several brokerages have recently weighed in on DDOG. Rosenblatt Securities decreased their target price on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Cantor Fitzgerald restated an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. Needham & Company LLC reduced their price objective on shares of Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research report on Wednesday, May 7th.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 47,306 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the completion of the sale, the director now directly owns 25,468 shares of the company's stock, valued at $2,735,263.20. The trade was a 65.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amit Agarwal sold 10,167 shares of Datadog stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now owns 82,324 shares in the company, valued at $9,538,058.64. The trade was a 10.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 584,867 shares of company stock worth $60,517,652. 11.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently made changes to their positions in DDOG. Siren L.L.C. lifted its holdings in Datadog by 55.9% in the 1st quarter. Siren L.L.C. now owns 47,425 shares of the company's stock worth $4,705,000 after buying an additional 17,000 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Datadog by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 769 shares of the company's stock valued at $76,000 after buying an additional 115 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Datadog by 2.8% during the 1st quarter. IFM Investors Pty Ltd now owns 50,669 shares of the company's stock valued at $5,027,000 after buying an additional 1,387 shares during the last quarter. Capital Impact Advisors LLC bought a new position in Datadog in the 1st quarter worth about $6,704,000. Finally, Bayforest Capital Ltd grew its position in Datadog by 299.9% in the 1st quarter. Bayforest Capital Ltd now owns 4,027 shares of the company's stock worth $400,000 after purchasing an additional 3,020 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Performance

NASDAQ DDOG traded up $3.14 during trading hours on Friday, hitting $117.60. The company had a trading volume of 3,316,276 shares, compared to its average volume of 4,390,229. Datadog has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a market cap of $40.61 billion, a PE ratio of 230.59, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business has a 50 day moving average of $102.65 and a 200-day moving average of $125.04.

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 the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business's quarterly revenue was up 24.6% compared to the same quarter last year. Sell-side analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

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.