Datadog (NASDAQ:DDOG) Stock Price Up 0.9% – Time to Buy?

Shares of Datadog, Inc. (NASDAQ:DDOG) rose 0.9% on Tuesday . The stock traded as high as $100.70 and last traded at $100.11. Approximately 1,472,704 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 4,178,602 shares. The stock had previously closed at $99.21.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DDOG. DA Davidson raised their price target on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Loop Capital boosted their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Jefferies Financial Group reduced their price objective on shares of Datadog from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday. Finally, Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.22.

Datadog Price Performance

The business’s fifty day moving average price is $123.01 and its two-hundred day moving average price is $130.88. The stock has a market capitalization of $34.48 billion, a PE ratio of 197.25, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is owned by company insiders.

Institutional Trading of Datadog

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC lifted its holdings in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC lifted its stake in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the period. Putney Financial Group LLC purchased a new stake in Datadog during the fourth quarter worth $32,000. Finally, Quarry LP purchased a new position in Datadog in the third quarter valued at $33,000. Hedge funds and other 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.