TD Cowen Forecasts Strong Price Appreciation for Datadog (NASDAQ:DDOG) Stock

Datadog (NASDAQ:DDOG) had its target price boosted by analysts at TD Cowen from $160.00 to $165.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 32.18% from the company’s current price.

Several other analysts have also weighed in on DDOG. UBS Group reiterated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. BMO Capital Markets increased their price objective on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday. Sanford C. Bernstein lowered their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Barclays cut their price target on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $147.36.

Datadog Stock Performance

Shares of DDOG stock traded down $4.96 during trading hours on Friday, hitting $124.83. 2,919,426 shares of the company were exchanged, compared to its average volume of 3,782,960. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 277.23, a P/E/G ratio of 22.93 and a beta of 1.10. Datadog has a one year low of $98.80 and a one year high of $138.61. The business’s 50-day simple moving average is $119.21 and its two-hundred day simple moving average is $119.49.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. As a group, analysts anticipate that Datadog will post 0.42 EPS for the current fiscal year.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.61, for a total value of $10,499,952.57. Following the transaction, the chief executive officer now owns 392,111 shares in the company, valued at $48,076,729.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total value of $10,499,952.57. Following the sale, the chief executive officer now owns 392,111 shares of the company’s stock, valued at $48,076,729.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction 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 transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,291 shares of company stock valued at $54,154,859. Corporate insiders own 11.78% of the company’s stock.

Institutional Investors Weigh In On Datadog

Several hedge funds have recently made changes to their positions in the stock. Heritage Investors Management Corp acquired a new position in shares of Datadog in the 3rd quarter worth approximately $1,157,000. Vanguard Group Inc. raised its holdings in Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares during the last quarter. Bank of Montreal Can lifted its position in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Datadog by 23.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,933 shares of the company’s stock valued at $19,635,000 after purchasing an additional 32,217 shares during the last quarter. Finally, Plato Investment Management Ltd grew its position in shares of Datadog by 1,648.8% during the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock worth $638,000 after buying an additional 4,864 shares during the period. 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.