Monness Crespi & Hardt Reiterates “Sell” Rating for Datadog (NASDAQ:DDOG)

Monness Crespi & Hardt reiterated their sell rating on shares of Datadog (NASDAQ:DDOG) in a research report released on Friday, MarketBeat reports. They currently have a $98.00 price target on the stock, down from their previous price target of $290.00.

A number of other equities analysts also recently commented on the company. JMP Securities upgraded Datadog to a hold rating in a report on Wednesday, May 8th. Canaccord Genuity Group reaffirmed a buy rating and set a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Wedbush restated an outperform rating and set a $155.00 price target on shares of Datadog in a research report on Monday, May 6th. Needham & Company LLC reissued a buy rating and set a $165.00 target price on shares of Datadog in a research note on Wednesday, May 15th. Finally, Bank of America upgraded shares of Datadog from a neutral rating to a buy rating and upped their price target for the company from $143.00 to $155.00 in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $136.04.

Datadog Stock Performance

NASDAQ:DDOG opened at $117.17 on Friday. Datadog has a 1-year low of $77.81 and a 1-year high of $138.61. The firm has a market cap of $39.19 billion, a price-to-earnings ratio of 366.16, a price-to-earnings-growth ratio of 45.91 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The firm’s fifty day moving average price is $120.72 and its 200 day moving average price is $122.92.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The business had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. On average, sell-side analysts expect that Datadog will post 0.27 EPS for the current year.

Insider Activity

In other news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the completion of the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,851,883.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO David M. Obstler sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the completion of the transaction, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at $35,851,883.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Adam Blitzer sold 11,946 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the sale, the chief operating officer now directly owns 236,640 shares of the company’s stock, valued at approximately $25,900,248. The disclosure for this sale can be found here. Over the last three months, insiders have sold 697,968 shares of company stock valued at $82,261,689. Company insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after buying an additional 171,693 shares during the last quarter. Sands Capital Management LLC boosted its position in shares of Datadog by 3.7% during the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after buying an additional 162,108 shares during the period. Norges Bank purchased a new stake in Datadog in the fourth quarter worth $384,986,000. Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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.