Needham & Company LLC Reiterates "Buy" Rating for Datadog (NASDAQ:DDOG)

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

Other analysts also recently issued reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Royal Bank of Canada boosted their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Wells Fargo & Company raised shares of Datadog from an equal weight rating to an overweight rating and boosted their price objective for the company from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Mizuho boosted their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Finally, Wedbush reaffirmed an outperform rating and set a $155.00 price objective on shares of Datadog in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Datadog has an average rating of Moderate Buy and an average price target of $135.58.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $1.72 during midday trading on Wednesday, reaching $118.47. The company's stock had a trading volume of 3,525,019 shares, compared to its average volume of 4,260,375. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $123.38 and a 200 day moving average price of $120.35. Datadog has a one year low of $77.81 and a one year high of $138.61. The company has a market cap of $39.32 billion, a price-to-earnings ratio of 369.69, a price-to-earnings-growth ratio of 46.08 and a beta of 1.14.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. During the same period in the previous year, the firm earned ($0.08) EPS. The business's revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities research analysts expect that Datadog will post 0.27 EPS for the current year.

Insider Activity at Datadog

In related news, CFO David M. Obstler sold 15,000 shares of the company's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the completion of the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at approximately $35,851,883.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO David M. Obstler sold 15,000 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total value of $1,954,200.00. Following the completion of the transaction, the chief financial officer now owns 275,191 shares in the company, valued at approximately $35,851,883.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Madre Armelle De sold 300 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total transaction of $34,011.00. Following the completion of the transaction, the insider now owns 100,053 shares of the company's stock, valued at approximately $11,343,008.61. The disclosure for this sale can be found here. Insiders sold a total of 585,425 shares of company stock worth $74,023,906 in the last ninety days. 11.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Hedge funds have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in shares of Datadog in the 1st quarter valued at $26,000. Anchor Investment Management LLC bought a new stake in shares of Datadog in the 4th quarter worth about $25,000. Raleigh Capital Management Inc. bought a new stake in shares of Datadog in the 4th quarter worth about $29,000. Private Trust Co. NA grew its holdings in shares of Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company's stock worth $31,000 after purchasing an additional 223 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Datadog in the 4th quarter worth about $33,000. 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.