Stifel Nicolaus Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG - Free Report) had its price target raised by Stifel Nicolaus from $120.00 to $135.00 in a research report sent to investors on Thursday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other brokerages have also recently weighed in on DDOG. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Bank of America lifted their price target on shares of Datadog from $138.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Truist Financial dropped their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Rosenblatt Securities dropped their price target on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, Datadog has a consensus rating of "Moderate Buy" and a consensus price target of $143.03.

Datadog Stock Performance

DDOG stock traded up $0.88 on Thursday, hitting $131.12. The company had a trading volume of 3,881,671 shares, compared to its average volume of 4,436,708. Datadog has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The stock's 50-day simple moving average is $113.64 and its 200 day simple moving average is $121.91. The stock has a market cap of $45.28 billion, a price-to-earnings ratio of 285.05, a P/E/G ratio of 72.05 and a beta of 1.01.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter last year, the company posted $0.44 earnings per share. The firm's quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts expect that Datadog will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the business's stock in a transaction that occurred 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 sale, the general counsel now directly owns 115,490 shares in the company, valued at $13,493,851.60. The trade was a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 901,778 shares of company stock valued at $103,817,113 over the last ninety days. 8.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Several large investors have recently added to or reduced their stakes in DDOG. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Datadog during the first quarter valued at approximately $1,172,000. Inspire Investing LLC grew its stake in shares of Datadog by 70.4% during the first quarter. Inspire Investing LLC now owns 3,078 shares of the company's stock valued at $305,000 after buying an additional 1,272 shares during the last quarter. DLD Asset Management LP bought a new position in shares of Datadog during the first quarter valued at approximately $1,379,000. Siren L.L.C. grew its stake in shares of Datadog by 55.9% during the first quarter. Siren L.L.C. now owns 47,425 shares of the company's stock valued at $4,705,000 after buying an additional 17,000 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Datadog by 17.6% during the first quarter. Geneos Wealth Management Inc. now owns 769 shares of the company's stock valued at $76,000 after buying an additional 115 shares during the last quarter. 78.29% of the stock is owned by 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.