Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, Barclays Analyst Says

Datadog (NASDAQ:DDOG - Free Report) had its price target increased by Barclays from $128.00 to $170.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on DDOG. Wedbush reiterated an "outperform" rating and issued a $140.00 target price on shares of Datadog in a research report on Wednesday, June 11th. Bank of America boosted their price target on Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Needham & Company LLC set a $140.00 price objective on Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. Macquarie cut their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, BTIG Research set a $136.00 price objective on Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $146.79.

Datadog Stock Up 0.2%

NASDAQ DDOG traded up $0.25 during trading hours on Monday, reaching $145.27. 3,680,722 shares of the company's stock were exchanged, compared to its average volume of 5,009,913. The company's 50-day moving average is $127.40 and its two-hundred day moving average is $120.44. Datadog has a one year low of $81.63 and a one year high of $170.08. 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 market capitalization of $50.17 billion, a price-to-earnings ratio of 315.81, a price-to-earnings-growth ratio of 79.75 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last released 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 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 analysts' expectations of $741.73 million. During the same period last year, the business earned $0.44 earnings per share. The firm's revenue was up 24.6% on a year-over-year basis. On average, analysts forecast that Datadog will post 0.34 EPS for the current fiscal year.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 41,468 shares of Datadog stock in a transaction on Monday, July 14th. The stock was sold at an average price of $139.27, for a total value of $5,775,248.36. Following the completion of the sale, the chief technology officer owned 452,769 shares of the company's stock, valued at $63,057,138.63. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shardul Shah sold 7,924 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $140.80, for a total value of $1,115,699.20. Following the sale, the director directly owned 380,281 shares of the company's stock, valued at $53,543,564.80. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 957,666 shares of company stock valued at $117,576,223 over the last ninety days. Insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of Datadog in the fourth quarter worth approximately $209,000. Corient Private Wealth LLC grew its stake in Datadog by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 13,118 shares of the company's stock worth $1,874,000 after purchasing an additional 115 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Datadog by 400.3% in the fourth quarter. Teacher Retirement System of Texas now owns 22,283 shares of the company's stock worth $3,184,000 after purchasing an additional 17,829 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Datadog by 3,087.2% in the fourth quarter. TD Private Client Wealth LLC now owns 4,717 shares of the company's stock worth $674,000 after purchasing an additional 4,569 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Datadog in the fourth quarter worth approximately $645,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.