Datadog (NASDAQ:DDOG) Lifted to Buy at UBS Group

UBS Group upgraded shares of Datadog (NASDAQ:DDOG) from a neutral rating to a buy rating in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has $150.00 price target on the stock, up from their previous price target of $125.00.

Several other brokerages also recently issued reports on DDOG. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Scotiabank reduced their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets reduced their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average target price of $142.43.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $125.81 on Friday. Datadog has a 12-month low of $77.81 and a 12-month high of $138.61. The company has a market capitalization of $42.08 billion, a PE ratio of 393.16, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. The firm’s 50-day moving average is $116.86 and its two-hundred day moving average is $119.44.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating 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 for 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 company’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, analysts forecast that Datadog will post 0.42 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on 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 directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. 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 company’s stock in a transaction on 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 directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. 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. Also, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the completion of the transaction, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $39,489,660.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 529,928 shares of company stock valued at $63,079,091 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SouthState Corp bought a new position in Datadog during the 2nd quarter valued at $26,000. Riverview Trust Co bought a new position in Datadog during the 1st quarter valued at $26,000. Blue Trust Inc. bought a new position in Datadog during the 2nd quarter valued at $37,000. Versant Capital Management Inc boosted its stake in Datadog by 216.5% during the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after acquiring an additional 210 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

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.