Datadog (NASDAQ:DDOG) Stock Rating Upgraded by Wedbush

Datadog (NASDAQ:DDOG) was upgraded by analysts at Wedbush to a “strong-buy” rating in a research report issued on Thursday, Zacks.com reports.

Other equities analysts also recently issued research reports about the company. BNP Paribas assumed coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. Evercore ISI initiated coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target on the stock. UBS Group upgraded Datadog from a “neutral” rating to a “buy” rating and raised their price objective for the company from $125.00 to $150.00 in a report on Friday. Finally, BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $142.11.

Datadog Price Performance

NASDAQ DDOG opened at $126.22 on Thursday. Datadog has a one year low of $77.81 and a one year high of $138.61. The firm has a market cap of $42.22 billion, a P/E ratio of 394.44, a P/E/G ratio of 22.85 and a beta of 1.11. The stock’s 50-day moving average is $116.27 and its 200-day moving average is $119.42.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities analysts anticipate that Datadog will post 0.42 EPS for the current year.

Insider Buying and Selling at Datadog

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 sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at approximately $39,489,660.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 529,928 shares of company stock valued at $63,079,091 in the last three months. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DDOG. Kodai Capital Management LP bought a new position in shares of Datadog in the first quarter worth about $116,054,000. DNB Asset Management AS lifted its stake in Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after buying an additional 739,011 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after buying an additional 344,431 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after buying an additional 331,808 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

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.