Datadog (NASDAQ:DDOG) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Datadog (NASDAQ:DDOGGet Free Report) had its price objective upped by analysts at BMO Capital Markets from $135.00 to $145.00 in a research report issued on Friday,Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 12.27% from the stock’s previous close.

DDOG has been the topic of several other reports. Barclays decreased their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. BNP Paribas began coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. UBS Group restated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Finally, Needham & Company LLC cut their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.33.

View Our Latest Stock Report on DDOG

Datadog Stock Performance

Shares of Datadog stock opened at $129.15 on Friday. The company has a 50-day simple moving average of $119.21 and a two-hundred day simple moving average of $119.49. The stock has a market capitalization of $43.54 billion, a PE ratio of 288.43, a price-to-earnings-growth ratio of 22.93 and a beta of 1.10. Datadog has a 52-week low of $98.80 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOGGet Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts forecast that Datadog will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Shardul Shah sold 15,832 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares in the company, valued at $55,143,068.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the transaction, the director now directly owns 459,449 shares in the company, valued at approximately $55,143,068.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 444,291 shares of company stock worth $54,154,859 in the last quarter. Company insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of large investors have recently bought and sold shares of DDOG. Meeder Asset Management Inc. raised its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Pathstone Holdings LLC raised its holdings in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after purchasing an additional 91 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Datadog by 40.1% in the 3rd quarter. Meeder Advisory Services Inc. now owns 5,026 shares of the company’s stock valued at $578,000 after purchasing an additional 1,439 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in shares of Datadog during the 3rd quarter worth about $581,000. Finally, Quest Partners LLC increased its position in Datadog by 2,323.9% during the 3rd quarter. Quest Partners LLC now owns 1,115 shares of the company’s stock worth $128,000 after purchasing an additional 1,069 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Datadog

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Datadog (NASDAQ:DDOG)

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