UBS Group Increases Datadog (NASDAQ:DDOG) Price Target to $165.00

Datadog (NASDAQ:DDOG - Free Report) had its price objective upped by UBS Group from $140.00 to $165.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. DA Davidson upped their target price on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. BTIG Research set a $136.00 price target on shares of Datadog and gave the company a "buy" rating in a research report on Tuesday, May 6th. Mizuho upped their price objective on shares of Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Finally, Rosenblatt Securities reduced their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Datadog presently has a consensus rating of "Moderate Buy" and an average price target of $145.34.

Datadog Price Performance

DDOG traded up $3.79 during midday trading on Wednesday, reaching $143.15. 5,307,268 shares of the company's stock were exchanged, compared to its average volume of 5,012,999. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $125.99 and a two-hundred day simple moving average of $120.75. The firm has a market capitalization of $49.44 billion, a price-to-earnings ratio of 311.20, a price-to-earnings-growth ratio of 77.30 and a beta of 1.03. Datadog has a one year low of $81.63 and a one year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. Datadog's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. As a group, research analysts predict that Datadog will post 0.34 EPS for the current year.

Insider Transactions at Datadog

In other 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 value of $13,451,522.15. Following the transaction, the chief technology officer owned 466,535 shares of the company's stock, valued at $49,373,399.05. This represents a 21.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David M. Obstler sold 35,016 shares of Datadog stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $117.40, for a total value of $4,110,878.40. Following the sale, the chief financial officer directly owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 949,742 shares of company stock valued at $116,460,524. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Datadog

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Datadog by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock worth $3,116,487,000 after acquiring an additional 1,058,803 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Datadog by 12.6% in the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock worth $1,217,769,000 after purchasing an additional 1,369,522 shares during the period. 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 worth $858,994,000 after purchasing an additional 6,250,942 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Datadog by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,729,254 shares of the company's stock valued at $667,611,000 after buying an additional 1,261,065 shares during the period. Finally, Groupama Asset Managment increased its position in shares of Datadog by 407.6% in the 4th 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 in the last quarter. 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.