Datadog (NASDAQ:DDOG) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Datadog (NASDAQ:DDOG - Free Report) from a peer perform rating to an outperform rating in a research report released on Thursday, Marketbeat.com reports. The firm currently has $150.00 target price on the stock.

Several other analysts have also weighed in on the company. Canaccord Genuity Group cut their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. UBS Group upped their target price on Datadog from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Finally, Barclays upped their target price on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.25.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $2.23 on Thursday, hitting $120.45. The company's stock had a trading volume of 3,961,551 shares, compared to its average volume of 4,402,373. Datadog has a 12 month low of $81.63 and a 12 month high of $170.08. The company has a market capitalization of $41.60 billion, a price-to-earnings ratio of 236.18, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01. The stock's 50-day moving average is $108.01 and its two-hundred day moving average is $123.35.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The company's revenue for the quarter was up 24.6% compared to the same quarter last year. Equities analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the sale, the chief executive officer now owns 563,598 shares of the company's stock, valued at $49,219,013.34. This trade represents a 16.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $119.46, for a total value of $2,986,500.00. Following the completion of the sale, the director now directly owns 54,356 shares in the company, valued at $6,493,367.76. This trade represents a 31.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 725,582 shares of company stock valued at $80,913,097. Insiders own 8.70% of the company's stock.

Institutional Trading of Datadog

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in shares of Datadog by 259.7% during the 1st 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. Groupama Asset Managment grew its holdings in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after purchasing an additional 3,993,707 shares in the last quarter. Norges Bank acquired a new stake in shares of Datadog during the 4th quarter worth approximately $462,910,000. Finally, Brown Advisory Inc. grew its holdings in shares of Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after purchasing an additional 2,654,512 shares in the last quarter. Institutional investors and hedge funds 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.