Datadog (NASDAQ:DDOG) Lifted to Outperform at Robert W. Baird

Datadog (NASDAQ:DDOG - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a $140.00 price target on the stock, up from their previous price target of $130.00. Robert W. Baird's price target would indicate a potential upside of 19.37% from the company's previous close.

Other research analysts also recently issued research reports about the company. Citigroup boosted their target price on Datadog from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 22nd. Wells Fargo & Company raised Datadog from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $130.00 to $150.00 in a research note on Tuesday, April 23rd. Wedbush reissued an "outperform" rating and set a $155.00 target price on shares of Datadog in a research note on Monday. Wolfe Research boosted their target price on Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.58.

Datadog Stock Performance

Shares of DDOG traded up $4.88 during midday trading on Wednesday, reaching $117.28. 8,312,567 shares of the stock were exchanged, compared to its average volume of 4,288,102. Datadog has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The company has a market cap of $38.92 billion, a P/E ratio of 977.33 and a beta of 1.14. The stock's 50 day simple moving average is $124.57 and its 200 day simple moving average is $119.16.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its 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. The company had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company's revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) earnings per share. On average, sell-side analysts expect that Datadog will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 85,637 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.41, for a total value of $10,739,736.17. Following the transaction, the chief executive officer now owns 337,247 shares in the company, valued at $42,294,146.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CRO Sean Michael Walters sold 10,000 shares of the 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 of the company's stock, valued at approximately $21,129,001.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the company's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the sale, the chief executive officer now owns 337,247 shares in the company, valued at $42,294,146.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 712,230 shares of company stock worth $91,161,780. Insiders own 11.78% of the company's stock.

Institutional Trading of Datadog

A number of institutional investors have recently modified their holdings of the business. First National Trust Co raised its position in shares of Datadog by 3.3% during the 1st quarter. First National Trust Co now owns 2,447 shares of the company's stock valued at $302,000 after buying an additional 79 shares in the last quarter. Parsons Capital Management Inc. RI raised its position in Datadog by 1.8% in the 1st quarter. Parsons Capital Management Inc. RI now owns 4,890 shares of the company's stock worth $604,000 after purchasing an additional 88 shares during the period. Panagora Asset Management Inc. increased its position in shares of Datadog by 1.0% in the fourth quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company's stock valued at $1,096,000 after acquiring an additional 89 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Datadog by 17.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company's stock valued at $78,000 after acquiring an additional 97 shares during the period. Finally, AM Squared Ltd increased its position in shares of Datadog by 25.0% in the fourth quarter. AM Squared Ltd now owns 500 shares of the company's stock valued at $61,000 after acquiring an additional 100 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

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.