Barclays Cuts Datadog (NASDAQ:DDOG) Price Target to $145.00

Datadog (NASDAQ:DDOG - Free Report) had its price target cut by Barclays from $152.00 to $145.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

DDOG has been the subject of a number of other reports. Royal Bank of Canada upped their target price on Datadog from $145.00 to $151.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. William Blair reaffirmed an outperform rating on shares of Datadog in a report on Friday, February 16th. Mizuho lifted their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. BMO Capital Markets cut their target price on Datadog from $155.00 to $140.00 and set an outperform rating for the company in a research note on Wednesday. Finally, Wedbush reaffirmed an outperform rating and issued a $155.00 target price on shares of Datadog in a report on Monday. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $135.58.

Datadog Stock Performance

NASDAQ:DDOG traded up $4.88 during mid-day trading on Wednesday, reaching $117.28. 8,312,567 shares of the company's stock were exchanged, compared to its average volume of 4,288,102. Datadog has a one year low of $77.81 and a one year high of $138.61. 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 business's fifty day simple moving average is $124.57 and its two-hundred day simple moving average is $119.16. The firm has a market capitalization of $38.92 billion, a PE ratio of 977.33 and a beta of 1.14.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $589.65 million for the quarter, compared to analysts' expectations of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business's revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. Analysts anticipate that Datadog will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Adam Blitzer sold 20,892 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,686,293.36. Following the sale, the chief operating officer now directly owns 203,503 shares in the company, valued at $26,166,415.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Adam Blitzer sold 20,892 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $2,686,293.36. Following the sale, the chief operating officer now directly owns 203,503 shares of the company's stock, valued at approximately $26,166,415.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Madre Armelle De sold 600 shares of Datadog stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the transaction, the insider now directly owns 100,353 shares of the company's stock, valued at approximately $12,578,245.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 712,230 shares of company stock valued at $91,161,780. Company insiders own 11.78% of the company's stock.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA bought a new stake in Datadog in the third quarter valued at $189,668,000. Quintet Private Bank Europe S.A. bought a new position in Datadog in the third quarter worth approximately $270,000. Mengis Capital Management Inc. acquired a new stake in Datadog in the third quarter valued at approximately $409,000. Cercano Management LLC increased its holdings in shares of Datadog by 40.4% during the third quarter. Cercano Management LLC now owns 309,560 shares of the company's stock valued at $28,198,000 after acquiring an additional 89,019 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Datadog during the fourth quarter worth approximately $2,913,000. Institutional investors 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.