Datadog’s (DDOG) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Datadog (NASDAQ:DDOG) in a research note released on Tuesday morning,Benzinga reports. The firm currently has a $160.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on the company. Rosenblatt Securities increased their price target on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Scotiabank decreased their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Macquarie reissued an “outperform” rating and set a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Finally, Truist Financial decreased their target price on Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Trading Down 3.2 %

NASDAQ DDOG opened at $111.46 on Tuesday. The stock has a market cap of $38.20 billion, a PE ratio of 218.55, a P/E/G ratio of 44.03 and a beta of 1.22. Datadog has a twelve month low of $98.80 and a twelve month high of $170.08. The stock has a fifty day simple moving average of $135.78 and a 200-day simple moving average of $131.71.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Research analysts predict that Datadog will post 0.34 EPS for the current year.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the sale, the director now owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 589,353 shares of company stock valued at $86,544,020. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after buying an additional 220,527 shares during the last quarter. Baillie Gifford & Co. grew its stake in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Jennison Associates LLC grew its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Groupama Asset Managment grew its stake in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after buying an additional 499,055 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

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.