Datadog (NASDAQ:DDOG) Receives Sell Rating from Guggenheim

Datadog (NASDAQ:DDOG - Get Free Report)'s stock had its "sell" rating restated by research analysts at Guggenheim in a research note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $105.00 price target on the stock. Guggenheim's target price would indicate a potential downside of 31.11% from the company's current price.

Other equities analysts also recently issued research reports about the company. Bank of America upped their target price on Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a report on Monday. Scotiabank set a $130.00 target price on Datadog and gave the company an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley decreased their price objective on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus increased their price objective on Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a report on Thursday, June 26th. Finally, DA Davidson increased their price objective on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.60.

Datadog Stock Down 1.8%

Shares of DDOG opened at $152.41 on Tuesday. 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 has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a 50 day simple moving average of $121.01 and a two-hundred day simple moving average of $120.73. The firm has a market cap of $52.63 billion, a P/E ratio of 331.33, a P/E/G ratio of 85.83 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data 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 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 the consensus estimate of $741.73 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The business's revenue was up 24.6% on a year-over-year basis. On average, analysts forecast that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the sale, the chief technology officer directly owned 466,535 shares of the company's stock, valued at $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total value of $2,925,500.00. Following the sale, the director directly owned 76,052 shares in the company, valued at $8,899,605.04. This trade represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 794,413 shares of company stock valued at $94,440,927. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Datadog

Several institutional investors have recently modified their holdings of DDOG. Goldman Sachs Group Inc. boosted its position in shares of Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock valued at $858,994,000 after buying an additional 6,250,942 shares during the last quarter. Groupama Asset Managment boosted its position in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after buying an additional 3,993,707 shares during the last quarter. Norges Bank purchased a new stake in shares of Datadog during the fourth quarter valued at $462,910,000. Finally, Brown Advisory Inc. boosted its position in shares of Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after buying an additional 2,654,512 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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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