Datadog (NASDAQ:DDOG) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Datadog (NASDAQ:DDOG - Free Report) from an equal weight rating to an overweight rating in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $150.00 price objective on the stock, up from their previous price objective of $130.00.

A number of other equities research analysts have also weighed in on DDOG. Canaccord Genuity Group restated a buy rating and issued a $150.00 price objective on shares of Datadog in a report on Friday, February 23rd. Cantor Fitzgerald restated an overweight rating and set a $150.00 target price on shares of Datadog in a research note on Wednesday, April 17th. Truist Financial raised their price objective on shares of Datadog from $140.00 to $155.00 and gave the stock a buy rating in a report on Wednesday, February 14th. BMO Capital Markets restated an outperform rating and set a $155.00 target price (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus reiterated a buy rating and set a $152.00 price objective on shares of Datadog in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $131.70.

Datadog Trading Up 3.6 %

Shares of DDOG traded up $4.37 during trading hours on Tuesday, hitting $126.44. 5,098,173 shares of the stock were exchanged, compared to its average volume of 4,057,318. Datadog has a fifty-two week low of $62.60 and a fifty-two week high of $138.61. The firm has a market capitalization of $41.96 billion, a P/E ratio of 1,053.67 and a beta of 1.16. The business has a 50-day moving average of $125.53 and a 200-day moving average of $116.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17.

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

Insiders Place Their Bets

In related news, CFO David M. Obstler sold 70,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 275,191 shares of the company's stock, valued at approximately $33,223,809.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO David M. Obstler sold 70,000 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $120.73, for a total value of $8,451,100.00. Following the sale, the chief financial officer now directly owns 275,191 shares in the company, valued at $33,223,809.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Amit Agarwal sold 33,311 shares of the company's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the sale, the president now owns 294,012 shares in the company, valued at $37,804,062.96. The disclosure for this sale can be found here. Insiders have sold 745,984 shares of company stock worth $95,917,681 in the last ninety days. 14.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Datadog during the 3rd quarter worth approximately $189,668,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Datadog in the third quarter valued at about $270,000. Mengis Capital Management Inc. purchased a new stake in shares of Datadog in the third quarter valued at about $409,000. Bank of New York Mellon Corp raised its holdings in Datadog by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company's stock worth $125,571,000 after purchasing an additional 33,748 shares in the last quarter. Finally, Cercano Management LLC increased its holdings in Datadog by 40.4% in the third quarter. Cercano Management LLC now owns 309,560 shares of the company's stock valued at $28,198,000 after buying an additional 89,019 shares in the last quarter. Hedge funds and other 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.