Datadog (NASDAQ:DDOG) Given New $140.00 Price Target at Needham & Company LLC

Datadog (NASDAQ:DDOG - Get Free Report) had its target price increased by equities researchers at Needham & Company LLC from $130.00 to $140.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 14.12% from the stock's previous close.

DDOG has been the subject of several other research reports. Wells Fargo & Company decreased their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research note on Thursday. DA Davidson increased their price target on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Datadog has an average rating of "Moderate Buy" and a consensus price target of $142.25.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $4.05 during trading on Thursday, hitting $122.68. The company's stock had a trading volume of 4,949,838 shares, compared to its average volume of 4,403,391. The company has a market capitalization of $42.37 billion, a PE ratio of 240.55, a PEG ratio of 44.03 and a beta of 1.01. Datadog has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock's 50-day moving average price is $106.65 and its two-hundred day moving average price is $124.02.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the firm earned $0.44 earnings per share. The company's revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts predict that Datadog will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $595,767.16. Following the completion of the transaction, the general counsel now directly owns 115,490 shares in the company, valued at approximately $13,493,851.60. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 700,582 shares of company stock worth $77,926,597. Company insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Datadog

Hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its position in shares of Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after buying an additional 75 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after buying an additional 92 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock worth $95,000 after buying an additional 94 shares in the last quarter. Emerald Advisers LLC lifted its position in shares of Datadog by 1.1% in the first quarter. Emerald Advisers LLC now owns 9,300 shares of the company's stock worth $923,000 after buying an additional 97 shares in the last quarter. Finally, YANKCOM Partnership lifted its position in shares of Datadog by 12.0% in the first quarter. YANKCOM Partnership now owns 927 shares of the company's stock worth $92,000 after buying an additional 99 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

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.