Datadog (NASDAQ:DDOG) Given New $140.00 Price Target at UBS Group

Datadog (NASDAQ:DDOG - Free Report) had its target price hoisted by UBS Group from $125.00 to $140.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

DDOG has been the subject of a number of other research reports. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a research report on Tuesday, May 6th. Wedbush reaffirmed an "outperform" rating and set a $140.00 target price on shares of Datadog in a report on Wednesday. Wolfe Research downgraded Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Morgan Stanley dropped their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $142.25.

Datadog Trading Up 3.6%

Shares of Datadog stock traded up $4.32 during trading hours on Wednesday, reaching $122.95. The stock had a trading volume of 2,691,138 shares, compared to its average volume of 4,398,933. The firm has a market capitalization of $42.46 billion, a price-to-earnings ratio of 241.08, a P/E/G ratio of 44.03 and a beta of 1.01. Datadog has a 1 year low of $81.63 and a 1 year high of $170.08. The firm has a 50 day simple moving average of $106.65 and a two-hundred day simple moving average of $124.02.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the business posted $0.44 EPS. The company's revenue was up 24.6% on a year-over-year basis. Sell-side analysts forecast that Datadog will post 0.34 EPS for the current year.

Insider Buying and Selling

In other news, CRO Sean Michael Walters sold 11,167 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $1,304,752.28. Following the transaction, the executive now owns 235,431 shares in the company, valued at approximately $27,507,758.04. The trade was a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction 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. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 700,582 shares of company stock valued at $77,926,597 over the last 90 days. 8.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its position in shares of Datadog by 259.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after purchasing an additional 6,250,942 shares in the last quarter. Groupama Asset Managment lifted its position in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the last quarter. Norges Bank acquired a new position in Datadog during the 4th quarter valued at about $462,910,000. Finally, Brown Advisory Inc. increased its holdings in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after purchasing an additional 2,654,512 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.