Datadog (NASDAQ:DDOG) Price Target Raised to $185.00 at Monness Crespi & Hardt

Key Points

• Monness Crespi & Hardt raised Datadog's price target to $185.00, indicating a potential upside of 39.10% from the current price, while maintaining a "buy" rating on the stock.
• Datadog's quarterly earnings report showed earnings per share of $0.46, exceeding analyst expectations, with revenue of $826.76 million, up 28.1% year-over-year.
• Insider selling was noted, with CFO David Obstler and CEO Olivier Pomel selling significant shares, although overall insiders own 8.70% of the company stock.

Datadog (NASDAQ:DDOG - Get Free Report) had its price target hoisted by equities research analysts at Monness Crespi & Hardt from $160.00 to $185.00 in a research note issued on Thursday. The firm currently has a "buy" rating on the stock. Monness Crespi & Hardt's price objective indicates a potential upside of 39.10% from the stock's current price.

A number of other equities research analysts have also weighed in on DDOG. Wedbush restated an "outperform" rating and issued a $140.00 price objective on shares of Datadog in a report on Wednesday, June 11th. Scotiabank set a $130.00 price target on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Mizuho upped their target price on Datadog from $125.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Datadog has a consensus rating of "Moderate Buy" and an average price target of $149.90.

Datadog Stock Down 2.9%

Shares of Datadog stock traded down $3.96 during trading hours on Thursday, reaching $133.00. The company's stock had a trading volume of 10,490,328 shares, compared to its average volume of 5,870,005. Datadog has a one year low of $81.63 and a one year high of $170.08. The company has a market capitalization of $45.93 billion, a P/E ratio of 286.78, a P/E/G ratio of 73.11 and a beta of 1.02. The stock's fifty day simple moving average is $134.51 and its two-hundred day simple moving average is $120.96. 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 (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. The business had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 earnings per share. On average, research analysts forecast that Datadog will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In other news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total transaction of $2,211,450.00. Following the transaction, the chief financial officer directly owned 399,270 shares in the company, valued at approximately $58,864,376.10. This trade represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction on Monday, July 28th. The shares were sold at an average price of $150.82, for a total value of $1,688,429.90. Following the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $82,757,196.30. This trade represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 794,450 shares of company stock worth $100,732,467 over the last quarter. Insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Datadog

Hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Datadog by 32.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock valued at $2,216,000 after purchasing an additional 3,760 shares during the period. LBP AM SA boosted its stake in shares of Datadog by 40.2% during the 1st quarter. LBP AM SA now owns 419,805 shares of the company's stock worth $41,649,000 after acquiring an additional 120,343 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Datadog by 24.7% in the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock worth $78,112,000 after buying an additional 156,152 shares during the period. Total Wealth Planning & Management Inc. acquired a new stake in shares of Datadog in the fourth quarter worth $314,000. Finally, Soros Fund Management LLC boosted its position in shares of Datadog by 14.3% in the fourth quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock worth $27,462,000 after buying an additional 24,100 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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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