Datadog (NASDAQ:DDOG) Earns "Buy" Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Datadog (NASDAQ:DDOG - Free Report) in a research report report published on Tuesday, Benzinga reports. Needham & Company LLC currently has a $165.00 price objective on the stock.

A number of other research firms have also recently issued reports on DDOG. Royal Bank of Canada lifted their price objective on Datadog from $145.00 to $151.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Robert W. Baird lifted their price objective on Datadog from $120.00 to $130.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Rosenblatt Securities restated a buy rating and set a $146.00 target price on shares of Datadog in a report on Monday. BMO Capital Markets restated an outperform rating and set a $155.00 target price (up from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Finally, Mizuho raised their target price on Datadog from $108.00 to $130.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $136.04.

Datadog Stock Down 11.5 %

Shares of Datadog stock traded down $14.57 during midday trading on Tuesday, hitting $112.40. The company's stock had a trading volume of 21,735,326 shares, compared to its average volume of 4,242,298. The firm has a market capitalization of $37.30 billion, a P/E ratio of 943.50 and a beta of 1.14. The stock has a 50-day simple moving average of $124.94 and a 200-day simple moving average of $118.97. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog has a 1-year low of $75.02 and a 1-year high of $138.61.

Datadog (NASDAQ:DDOG - Get Free Report) last issued 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 business had revenue of $589.65 million during the quarter, compared to analysts' expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. Datadog's revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts expect that Datadog will post -0.14 earnings per share for the current year.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company's stock, valued at $38,897,694.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company's stock, valued at $38,897,694.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 10,000 shares of Datadog stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total transaction of $1,298,600.00. Following the completion of the transaction, the executive now directly owns 162,706 shares in the company, valued at $21,129,001.16. The disclosure for this sale can be found here. Insiders have sold 626,593 shares of company stock valued at $80,422,044 over the last three months. 11.78% of the stock is owned by insiders.

Institutional Trading of Datadog

Several institutional investors have recently modified their holdings of DDOG. Anchor Investment Management LLC acquired a new position in Datadog in the fourth quarter valued at $25,000. Riverview Trust Co acquired a new position in Datadog in the first quarter valued at $26,000. Raleigh Capital Management Inc. acquired a new position in Datadog in the fourth quarter valued at $29,000. BluePath Capital Management LLC acquired a new position in Datadog in the third quarter valued at $31,000. Finally, Private Trust Co. NA lifted its holdings in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company's stock valued at $31,000 after buying an additional 223 shares during the period. 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.