Datadog (NASDAQ:DDOG) Price Target Raised to $160.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has raised its price target for Datadog from $135.00 to $160.00, indicating a potential upside of 15% from the current price.
• Datadog's stock has received multiple upgrades from various analysts, with a consensus rating of "Moderate Buy" and a consensus price target of $147.66.
• In recent insider trading, Director Matthew Jacobson sold 47,306 shares, representing a 65% decrease in his position at Datadog.

Datadog (NASDAQ:DDOG - Get Free Report) had its price objective upped by equities researchers at Jefferies Financial Group from $135.00 to $160.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price target indicates a potential upside of 15.00% from the company's current price.

DDOG has been the subject of a number of other reports. Cantor Fitzgerald raised their price objective on Datadog from $134.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada restated an "outperform" rating and set a $119.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. Mizuho raised their price objective on Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Stifel Nicolaus raised their price target on Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a research note on Thursday, June 26th. Finally, Morgan Stanley raised their price target on Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Datadog currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.66.

Datadog Trading Up 2.6%

Shares of NASDAQ:DDOG traded up $3.53 during midday trading on Monday, reaching $139.13. The company had a trading volume of 3,500,335 shares, compared to its average volume of 5,833,551. Datadog has a 1-year low of $81.63 and a 1-year high of $170.08. The firm has a market cap of $48.05 billion, a price-to-earnings ratio of 302.46, a price-to-earnings-growth ratio of 74.44 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The company has a fifty day simple moving average of $133.30 and a two-hundred day simple moving average of $120.76.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping 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 firm had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same period last year, the company posted $0.44 EPS. The business's quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts predict that Datadog will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In other Datadog news, Director Matthew Jacobson sold 47,306 shares of Datadog stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director owned 25,468 shares in the company, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Obstler sold 35,016 shares of Datadog stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the completion of the transaction, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $46,874,298. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 968,861 shares of company stock worth $119,264,653. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Putney Financial Group LLC acquired a new position in Datadog in the fourth quarter valued at about $32,000. Elequin Capital LP acquired a new position in shares of Datadog during the fourth quarter worth about $34,000. Coppell Advisory Solutions LLC raised its holdings in Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after acquiring an additional 177 shares in the last quarter. Costello Asset Management INC bought a new stake in Datadog during the first quarter worth about $30,000. Finally, Cornerstone Planning Group LLC raised its holdings in 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 acquiring an additional 154 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

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.

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