Robert W. Baird Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its target price upped by equities research analysts at Robert W. Baird from $140.00 to $150.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 20.53% from the company’s previous close.

DDOG has been the subject of a number of other research reports. BMO Capital Markets increased their target price on Datadog from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Scotiabank decreased their price objective on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday. DA Davidson upgraded Datadog from a “neutral” rating to a “buy” rating and boosted their target price for the company from $115.00 to $140.00 in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. Finally, Evercore ISI started coverage on shares of Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.96.

Datadog Stock Performance

NASDAQ DDOG opened at $124.45 on Friday. The stock has a market cap of $41.96 billion, a price-to-earnings ratio of 276.56, a PEG ratio of 23.44 and a beta of 1.10. The business has a 50 day simple moving average of $119.67 and a 200 day simple moving average of $119.58. Datadog has a 52-week low of $98.80 and a 52-week high of $138.61.

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. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. On average, analysts predict that Datadog will post 0.42 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now directly owns 74,421 shares of the company’s stock, valued at $8,934,985.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Kerry Acocella sold 2,452 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.06, for a total value of $294,387.12. Following the transaction, the general counsel now owns 74,421 shares in the company, valued at approximately $8,934,985.26. This trade 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 over the last ninety days. Insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kodai Capital Management LP acquired a new stake in shares of Datadog during the first quarter worth $116,054,000. DNB Asset Management AS raised 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 worth $109,925,000 after purchasing an additional 806,741 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Datadog by 1,597.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after purchasing an additional 739,011 shares during the period. Bank of Montreal Can grew its position in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after purchasing an additional 344,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.