Datadog (NASDAQ:DDOG) Shares Gap Up to $122.07

Datadog, Inc. (NASDAQ:DDOG - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $122.07, but opened at $125.50. Datadog shares last traded at $127.21, with a volume of 928,023 shares.

Analyst Ratings Changes

DDOG has been the topic of several analyst reports. Wells Fargo & Company raised shares of Datadog from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $130.00 to $150.00 in a research report on Tuesday. Needham & Company LLC boosted their price objective on shares of Datadog from $125.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday, February 13th. Robert W. Baird boosted their price objective on shares of Datadog from $120.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Stifel Nicolaus restated a "buy" rating and set a $152.00 price objective on shares of Datadog in a research note on Monday. Finally, William Blair restated an "outperform" rating on shares of Datadog in a research note on Friday, February 16th. Five analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $131.70.

Datadog Stock Performance

The stock's fifty day moving average price is $125.63 and its two-hundred day moving average price is $116.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The company has a market cap of $41.96 billion, a P/E ratio of 1,017.25 and a beta of 1.16.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. The firm's quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities analysts predict that Datadog, Inc. will post -0.14 earnings per share for the current year.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the transaction, the chief executive officer now owns 299,075 shares of the company's stock, valued at approximately $38,825,916.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the sale, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,825,916.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David M. Obstler sold 70,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the sale, the chief financial officer now owns 275,191 shares of the company's stock, valued at $33,223,809.43. The disclosure for this sale can be found here. Insiders sold a total of 745,984 shares of company stock valued at $95,917,681 in the last quarter. Insiders own 14.97% of the company's stock.

Institutional Investors Weigh In On Datadog

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Datadog by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company's stock valued at $3,308,748,000 after buying an additional 734,539 shares in the last quarter. Sands Capital Management LLC lifted its stake in shares of Datadog by 3.7% in the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company's stock valued at $554,073,000 after buying an additional 162,108 shares in the last quarter. Norges Bank bought a new position in shares of Datadog in the fourth quarter valued at $384,986,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Datadog by 31.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company's stock valued at $331,786,000 after buying an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company's stock valued at $317,955,000 after buying an additional 848,000 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.