Morgan Stanley Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG - Get Free Report) had its target price increased by research analysts at Morgan Stanley from $115.00 to $165.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 20.01% from the stock's previous close.

Several other equities research analysts also recently commented on the stock. Barclays lifted their target price on shares of Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group cut their target price on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research report on Thursday, June 12th. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Stifel Nicolaus boosted their price target on shares of Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.27.

Datadog Price Performance

Shares of Datadog stock traded down $5.26 during midday trading on Thursday, hitting $137.49. 9,699,587 shares of the company traded hands, compared to its average volume of 4,975,381. The firm's fifty day moving average price is $122.70 and its 200-day moving average price is $121.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. Datadog has a 12 month low of $81.63 and a 12 month high of $170.08. The stock has a market cap of $47.48 billion, a price-to-earnings ratio of 291.33, a PEG ratio of 78.97 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the company earned $0.44 EPS. The firm's revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Datadog will post 0.34 earnings per share for the current year.

Insider Activity

In other Datadog news, CFO David M. Obstler sold 35,016 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the transaction, the chief financial officer owned 399,270 shares in the company, valued at approximately $46,874,298. This represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $66,784,102.65. The trade was a 16.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 866,806 shares of company stock valued at $104,910,027. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Datadog

Several institutional investors and hedge funds have recently made changes to their positions in the company. Biltmore Wealth Management LLC raised its holdings in shares of Datadog by 1.5% in the second quarter. Biltmore Wealth Management LLC now owns 5,726 shares of the company's stock valued at $769,000 after purchasing an additional 86 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after purchasing an additional 92 shares during the last quarter. Emerald Advisers LLC raised its holdings in shares of Datadog by 1.1% in the first quarter. Emerald Advisers LLC now owns 9,300 shares of the company's stock valued at $923,000 after purchasing an additional 97 shares during the last quarter. YANKCOM Partnership raised its holdings in shares of Datadog by 12.0% in the first quarter. YANKCOM Partnership now owns 927 shares of the company's stock valued at $92,000 after purchasing an additional 99 shares during the last quarter. Finally, SageView Advisory Group LLC raised its holdings in shares of Datadog by 4.9% in the fourth quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock valued at $311,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

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.