Datadog (NASDAQ:DDOG) Given New $165.00 Price Target at Morgan Stanley

Datadog (NASDAQ:DDOG - Get Free Report) had its price objective hoisted by stock analysts at Morgan Stanley from $115.00 to $165.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 19.74% from the company's current price.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC set a $140.00 price target on Datadog and gave the stock a "buy" rating in a report on Thursday, June 12th. Cantor Fitzgerald restated an "overweight" rating and set a $134.00 price target on shares of Datadog in a report on Wednesday, May 7th. BTIG Research set a $136.00 price target on Datadog and gave the stock a "buy" rating in a report on Tuesday, May 6th. DA Davidson increased their price target on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.27.

Datadog Trading Up 0.2%

NASDAQ DDOG traded up $0.31 during mid-day trading on Thursday, reaching $137.80. 4,088,141 shares of the stock were exchanged, compared to its average volume of 5,971,917. Datadog has a one year low of $81.63 and a one year high of $170.08. The stock has a 50 day simple moving average of $123.32 and a 200-day simple moving average of $120.99. The stock has a market cap of $47.59 billion, a P/E ratio of 299.56, a P/E/G ratio of 78.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74.

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 analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter last year, the firm earned $0.44 earnings per share. Datadog's quarterly revenue was up 24.6% on a year-over-year basis. On average, analysts anticipate that Datadog will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Amit Agarwal sold 23,058 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the completion of the transaction, the director owned 31,298 shares in the company, valued at approximately $4,095,969.26. This represents a 42.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 32,924 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $146.05, for a total transaction of $4,808,550.20. Following the transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $80,139,825.75. The trade was a 5.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 866,806 shares of company stock worth $104,910,027. 8.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. Goldman Sachs Group Inc. increased its holdings in Datadog by 259.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after acquiring an additional 6,250,942 shares during the last quarter. Groupama Asset Managment increased its holdings in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after acquiring an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after acquiring an additional 3,993,707 shares during the last quarter. Norges Bank purchased a new stake in Datadog in the 4th quarter worth about $462,910,000. Finally, Brown Advisory Inc. increased its holdings in Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after acquiring an additional 2,654,512 shares during the last quarter. Hedge funds and other 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.