Datadog’s (DDOG) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Datadog (NASDAQ:DDOG) in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a $155.00 target price on the stock.

A number of other brokerages have also recently commented on DDOG. BMO Capital Markets dropped their target price on shares of Datadog from $155.00 to $140.00 and set an outperform rating on the stock in a report on Wednesday, May 8th. Baird R W upgraded shares of Datadog from a hold rating to a strong-buy rating in a report on Wednesday, May 8th. Mizuho raised shares of Datadog from a neutral rating to an outperform rating and raised their target price for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Cantor Fitzgerald reissued an overweight rating and issued a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $146.00 price objective on shares of Datadog in a research report on Monday, May 6th. Four analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $138.93.

Datadog Stock Down 1.6 %

Shares of NASDAQ DDOG traded down $1.78 during mid-day trading on Friday, hitting $112.28. 4,515,414 shares of the stock traded hands, compared to its average volume of 4,125,572. The company has a market cap of $37.56 billion, a price-to-earnings ratio of 350.88, a PEG ratio of 37.24 and a beta of 1.11. The stock has a fifty day moving average price of $119.38 and a 200-day moving average price of $122.98. Datadog has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43.

Insider Activity

In other news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Madre Armelle De sold 300 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $125.00, for a total transaction of $37,500.00. Following the transaction, the insider now directly owns 99,965 shares of the company’s stock, valued at approximately $12,495,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The disclosure for this sale can be found here. Insiders have sold 857,306 shares of company stock valued at $101,950,263 in the last ninety days. 11.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Datadog

Hedge funds and other institutional investors have recently modified their holdings of the stock. Spire Wealth Management increased its stake in shares of Datadog by 2,148.5% in the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after purchasing an additional 5,092 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Datadog by 47.8% in the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock worth $23,505,000 after purchasing an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA purchased a new stake in shares of Datadog in the 1st quarter worth $1,083,000. Massachusetts Financial Services Co. MA increased its stake in shares of Datadog by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC increased its stake in shares of Datadog by 5.6% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock worth $20,077,000 after purchasing an additional 8,830 shares in the last quarter. 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.